Sept 24 (Reuters) - Westpac Banking Corp (WBC) said on Friday it had tapped Barclays Group's Catherine McGrath as chief executive officer of its New Zealand subsidiary, replacing interim head Simon Power.
The move comes months after Australia's second-biggest bank called off a plan to separate its New Zealand business following a review that likely showed a demerger would have been too costly.
McGrath has held a number of executive positions at Barclays BARC.L since joining it in 2013 and was most recently the British bank's head of Channels, Westpac said, adding she was also an executive at New Zealand's ASB Bank.
McGrath will start as the head of Westpac New Zealand from mid-November, following which Power will return to his role as general manager of Institutional & Business Banking.
Power was named acting CEO of the New Zealand unit following the retirement of David McLean in late June. https://bit.ly/3EF6KvI
News: WBC Australia's Westpac names new CEO for New Zealand unit
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$33.66 |
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