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Friday, 09 January 2009

Westpac unveils senior executive line-up

20/11/2008 10:41:05 AM.  | 

Greg Bartlett is the only St George Bank group executive to take a spot in Westpac Banking Corporation's new executive team as the $15 billion takeover of the Happy Dragon nears completion.

Westpac's chief executive Gail Kelly on Thursday unveiled her new Westpac-heavy team, with few changes at the top for the bank which will become Australia's second biggest next month.

Formerly St George's former head of institutional and business banking, Mr Bartlett will become chief executive of the St George side of the retail and business banking business of the combined entity, Mrs Kelly said.

A St George Bank veteran, Mr Bartlett has been a member of St George's executive team for 17 years and will stand opposite Westpac retail and business banking chief Peter Hanlon in the new structure.

The senior executive line-up comprises 11 executives reporting to Mrs Kelly, of which Mr Bartlett is the only one to come from St George.

St George chief executive Paul Fegan announced his resignation earlier this week.

Of the ten executives from Westpac, eight are retaining their current roles, with Andrew Carriline making way for Robert Whitfield as the bank's new group executive of risk management.

Mr Carriline was acting chief risk officer for 18 months and will now become managing director of risk management with strategic oversight of asset management for the group, Westpac said.

Five St George executives will take up senior positions in the combined entity outside the executive team.

Meanwhile, Westpac will make an update in mid-December on its search for a chief executive of its New Zealand operations, a spokesperson said.

Bruce McLachlan has been acting in the role since Brad Cooper moved to the chief transformation role in June - a role he will keep.

The Westpac appointments announced on Thursday will take effect from December 1, when the merger of Westpac and St George comes into effect.

Departures from St George include chief financial officer Michael Cameron and retail banking boss Les Matheson.

Both will leave St George by December 1, Westpac said.

Peter Clare is group executive of Product and Operations, while Phil Chronican retains control of the bank's institutional arm.

Phil Coffey keeps his job as chief financial officer, and Rob Coombe remains in the top post at BT Financial Group.

Plans to integrate Westpac and St George are well underway, Mrs Kelly said.

"We are determined that the integration process is as smooth as possible," she said.

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