 Between 1992 and 1994, all major development of new banking systems by Databank was aborted, the development projects were closed down and the associated personnel were retrenched.This was managed by the then CEO, Tony Hood, who had formerly been a Commercial Services Manager at Databank, and later the Chief Manager of IT at the Westpac Bank.He was appointed as CEO by the Board of Databank, and assigned the task of disposing of the company.