BSP’s Fleming to leave end of this year

News that matter in Papua New Guinea

BSP’s Fleming to leave end of this year

PORT MORESBY: Bank South Pacific (BSP) Financial Group Ltd chief executive officer (CEO) Robin Fleming is ending his stint with BSP when his term expires at the end of the year.

According to a statement from the bank yesterday (April 26, 2022), BSP chairman Sir Kostas Constantinou had informed the board that Fleming would not be seeking an extension of his contract.

The statement said Sir Kostas had initiated a process to select a new CEO, and that the market would be informed once the process was completed.

The news break was reported by The National:

BSP boss to leave

April 27, 2022The NationalMain Stories

BANK of South Pacific (BSP) Financial Group Limited chief executive officer (CEO) Robin Fleming is ending his stint with BSP when his term expires at the end the year.
According to a statement from BSP chairman Sir Kostas Constantinou yesterday, Fleming had informed the board that he would not be seeking an extension of his contract.
Sir Kostas said the board had initiated a process to select a new CEO, and that the market would be informed once the process was completed.
Fleming, who arrived in the country from Australia after being seconded to PNG by the Commonwealth Bank at the end of 1980, could not be contacted last night.
But he told The National in an interview last October that he had watched BSP grow to own 65 per cent of the market share in PNG, and expand to the Cook Islands, Fiji, Samoa, Solomon Islands, Tonga, Vanuatu, Cambodia and Lao.
BSP now also has a life insurance company, a finance company and capital management company, employing around 4,500 staff, all managed from PNG, with almost 85 per cent of shareholders being from PNG.
He was appointed CEO in April 2013 after serving as the deputy CEO and chief risk officer since 2009.
He also held senior executive roles as chief risk officer, general manager corporate and international, and head of risk management with BSP.
He holds a Master in Business Administration degree and a Master in Management from Charles Sturt University.
Fleming was made a Companion of the Star of Melanesia (CSM) in 2015 for his services to banking and the community.
Ian Tarutia, the chief executive officer of Nasfund which is a big shareholder in BSP, said last night: “Fleming is highly respected for his achievements with BSP and it will be a huge loss for BSP and the banking sector as a whole to see him move on.
“Under (his) leadership, BSP has grown from strength to strength, expanding its services, impacting communities.
“More importantly, BSP has delivered consistent shareholder value in terms of dividend payments and share pricing.”
But Tarutia said Fleming’s decision not to seek a renewal of his contract should be respected.

Fleming rose through ranks to become BSP chief

April 27, 2022The NationalNational

ROBIN Fleming arrived in the country at the end of 1980 after being seconded by the Commonwealth Bank as an internal auditor and branch training officer in Kimbe and Arawa.
He then joined the PNG Banking Corporation (PNGBC) as a contract officer at its Waigani branch in 2002. Fleming was there when it was privatised and renamed Bank of South Pacific.
He rose through the ranks to become the bank’s chief executive officer in 2013. Fleming was born and grew up in Inala, a working-class housing commission suburb of Brisbane in Queensland, Australia.
He is married to Dora. They have three children: Cassandra, Liam and Joshua.
Fleming told The National in an interview last October that the privatisation of the PNGBC in 2002 was challenging.
“The biggest challenge was the uncertainty it caused for PNGBC staff at the time,” he said. “The risk of losing their jobs was real, and it gave the staff, including myself, a lot of anxiety and stress.”
When BSP expanded its business across the Pacific, “we went to great lengths to give undertakings to the staff that they would not lose their jobs”.

Fleming’s rise to the top

October 15, 2021The NationalPeople

By DALE LUMA
R OBIN Fleming has watched the Bank of South Pacific grow to be the country’s largest bank since he arrived in the country from Australia in late 1980.
Formerly called the PNG Banking Corporation owned by the Government, he was working as a contract officer in the Waigani branch in 2002 when it was privatised and renamed the Bank of South Pacific.
He rose through the ranks to become the bank’s chief executive officer today.
Fleming was born and grew up in Inala, a working-class housing commission suburb of Brisbane in Queensland, Australia.
He is married to Dora. They have three children Cassandra, Liam and Joshua. The latter two are working in PNG.
He completed Grade 12 at the St Laurence’s College in South Brisbane before joining the Commonwealth Bank in Inala.
“I worked with Commonwealth Bank as a teller and examiner in Inala, and other branches in Queensland before coming to PNG at the end of 1980.”
Fleming was seconded by the Commonwealth Bank to work as an internal auditor and branch training officer in Kimbe and Arawa. He then joined the PNG Banking Corporation as a contract officer at the Port Moresby branch.
The bank opened its branches in Waigani in the late 1980s, in Boroko too, and its head office departments.
He remembers the time when the bank was to be privatized in 2002.
“The biggest challenge was dealing with privatisation and the uncertainty it caused for PNGBC staff at the time.
“The risk of losing their jobs was real, and it gave the staff including myself a lot of anxiety and stress.”
When BSP expanded its business across the Pacific, “we went to great lengths to give undertakings to the staff that they would not lose their jobs.
And having been in such a position myself, I ensured that we stood by all such undertakings.”
The highlight of his career was

“Identify good role models as you progress your career, be prepared to work hard and have a supportive family.”

when he was appointed by the late Prime Minister Sir Mekere Morauta as the Boroko branch manager. He was only 32 then.
“At the time of privatisation, there was much negative comment about the PNGBC moving from 100 per cent government ownership to 25 per cent government ownership, and the capability of the privatised BSP to be able to compete with the Australian banks ANZ and Westpac.”
Fleming has watched BSP grow to own 65 per cent of the market share in PNG, and expand to the Cook Islands, Fiji, Samoa, Solomon Islands, Tonga, Vanuatu, Cambodia and Lao.
It now has a life insurance company, a finance company and capital management company, employing around 4,500 staff, all managed from PNG, with almost 85 per cent of shareholders being from PNG.
He views business conditions right now as more difficult.
“The third wave of the Covid-19 is going to place more people and businesses under some form of stress.
“Progress with the recommissioning of Porgera and the Papua LNG project provide for a better outlook in 2022, and an increase in vaccination rates will mitigate any future negative impacts of further waves of Covid.”
Four decades after setting foot on PNG soil, Fleming leads the country’s biggest bank and is an inspiration to young and aspiring PNG leaders.
His advice to young Papua New Guineans is to “identify good role models as you progress your career, be prepared to work hard and have a supportive family.”
What better role model one can find than Fleming.

Bank South Pacific Financial Group chief executive officer Robin Fleming with
Cardinal Sir John Ribat at the Gerehu Callan Services for Inclusive Education
Resource Centre in Port Moresby.
– Nationalpic by DALE LUMA