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Incoming Westpac Banking Corporation (ASX:WBC) boss Brian Hartzer is stamping his authority on the bank at his first day in the job, scrapping the need for his own previous position and appointing a CEO to Westpac, New Zealand.
Taking over from the recently retired Gail Kelly, Mr Hartzer is streamlining the bank’s management structure, ditching the Australian Financial Services division which he headed for the past two and a half years.
CEO’s of the Westpac Retail & Business banking, St George Banking Group and BT Financial Group will now report directly to the Group CEO as will the Technology division.
Mr Hartzer has also appointed David McLean as CEO of Westpac New Zealand, a position he has been temporarily filling since August last year.
All changes are effective immediately.
Westpac reported a net profit of $7.6 billion for the financial year ended 30th September 2014.
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