Westpac CEO resigns
Westpac New Zealand chief executive, Peter Clare has resigned following a recent, major medical procedure to correct a heart condition.
Tuesday, August 12th 2014, 3:37PM
Clare has decided it is the right time to take an extended break and provide himself with the best opportunity to make a full recovery.
“Following my recent, successful surgery to correct a heart condition I have decided that now is the right time to have an extended break to ensure a complete recovery,” Clare said in a statement.
David McLean, the acting Westpac New Zealand CEO, will continue to act in the role while an internal and external search is undertaken for Clare’s replacement.
Clare joined Westpac in 2008.
Westpac Group chief executive Gail Kelly says Clare played a very important role in executing the merger with St George Bank. He led the bank's
product and operations division and established a strong platform on which the group continues to build, she says.
"Peter was appointed to the position of CEO of Westpac New Zealand in April 2012, and has delivered all-round solid results."
Before returning to New Zealand as acting chief executive McLean was managing director and Head of Americas Division of Westpac Institutional Bank, based in New York. He had previously been responsible for Westpac New Zealand’s institutional, private and wealth management businesses.
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