Westpac NZ boss exits amid demerger talks
— 1 minute read
03 May 2021
The chief executive of Westpac’s New Zealand business has announced that he will retire after more than 20 years with the group as the big four bank eyes a potential demerger.
David McLean joined Westpac in 1999 and held a number of senior roles across retail and institutional banking before being appointed CEO of the New Zealand business in 2015. He will remain in the role until 25 June, at which time institutional business manager Simon Power will take over pending a global search for his replacement.
“David has been with Westpac for more than two decades and has held a number of senior roles in that time. He has made a significant contribution to the company, including playing a pivotal role in driving growth in the New Zealand business while lifting the bank’s support for New Zealanders,” said Westpac chief Peter King.