Westpac NZ boss Peter Clare resigns after major heart surgery

Westpac Banking Corp’s New Zealand chief executive Peter Clare has resigned to recover from major heart surgery.

Clare will leave the Australian banking group after six years following a recent major medical procedure to correct a heart condition, Westpac said in a statement. He took over the New Zealand unit’s top job in April 2012, replacing George Frazis who went on to head up St George Bank.

David McLean, head of Americas division of Westpac Institutional Bank, will return to New Zealand from New York to take up the role of acting CEO.

“I would like to thank Peter for his contribution to the group and wish him and his family well in his recuperation and into the future,” Westpac group chief Gail Kelly said.

The dual-listed bank’s NZX shares were unchanged at $36.29 and last traded at A$32.97 on the ASX. 

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

thl reduces FY24 NPAT guidance
May 6th Morning Report
Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management