Is there a one way pathway from the Commonwealth Bank and Suncorp Metway?

The question needs to be asked: in 2002 Suncorp head-hunted John Mulcahy from his possie as head of the CBA’s insurance and investment business.

It was something of a surprise move and the CBA revealed at the time that Stuart Grimshaw, group executive, financial and risk management, would be acting-group executive, investment and insurance services.

Mulcahy was Grimshaw’s boss at the CBA.

Fast forward seven years and Mulcahy departed Suncorp in 2009 after the financial services group suffered a near-death experience in the GFC, with an over-priced merger with Promina, and poor lending, especially for Queensland property, crippling the group.

And Grimshaw departed the CBA as head of premium business services and joined a boutique fund manager in Sydney called Caledonia Investments, where he is CEO.

And today Suncorp revealed that Grimshaw would follow Mulcahy into the directors’ suite.