Former Westpac banker Bruce McLachlan is the new chief executive.
McLachlan is an experienced banker “with the right qualities to lead The Co-operative Bank to become a growing force in the New Zealand retail banking market,” chairman Steven Fyfe says.
McLachlan has led both business and personal banking teams at a senior level during his banking career. His appointment is subject to approval from the Reserve Bank of New Zealand.
Gareth Fleming, who has been acting CEO for the past four months, will return to his role as general manager – Marketing and Products.
Karacaoglu joined the bank, then PSIS is 2003, and left this year to take up a role with the Reserve Bank.
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