Westpac appoints new CEO

Friday 5th December 2008

Westpac has appointed George Frazis as its new chief executive in New Zealand.

He replaces Brad Cooper who was appointed Westpac's Group chief transformation officer in June.

Frazis (44) is currently NAB's group executive general manager development and new business and is responsible for all strategy formulation across its businesses, including merger and acquisitions.

Prior to that he was NAB's executive general manager business and private banking, overseeing more than 5,500 banking specialists.

Before joining NAB, Frazis was a senior executive in CBA's Institutional Banking Division.

Frazis has also been a partner at the Boston Consulting Group.

"George brings to Westpac New Zealand strong strategic and operational skills built up in a diverse range of
roles within the financial services sector," Westpac chief executive Gail Kelly says.

Bruce McLachlan has been acting chief executive in New Zealand He will resume his position of general manager, consumer, within the New Zealand business.

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