Westpac NZ boss Peter Clare resigns after major heart surgery

Westpac NZ Chief Executive Peter Clare
Westpac Banking Corp’s New Zealand 12-month price history (NZX.com)

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Westpac Banking Corp’s New Zealand [NZX: WBC] 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)


This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7436 -0.0058 -0.77%
AUD 0.9780 -0.0001 -0.01%
EUR 0.6907 -0.0016 -0.23%
GBP 0.5016 -0.0048 -0.95%
HKD 5.7656 -0.0457 -0.79%
JPY 88.9230 -0.0190 -0.02%

Commods

Commodity Price Change Time
Gold Index 1208.0 24.740 2015-04-01T00:
Oil Brent 58.2 2.590 2015-04-01T00:
Oil Nymex 50.0 4.030 2015-04-01T00:
Silver Index 17.1 0.462 2015-04-01T00:

Indices

Symbol Open High Last %
NZX 50 5835.6 5835.6 5835.6 -0.42%
NASDAQ 4894.4 4899.4 4900.9 -0.42%
DAX 11902.9 12113.0 11966.2 0.29%
DJI 17778.5 17778.5 17776.1 -0.44%
FTSE 6773.0 6856.4 6773.0 0.54%
HKSE 24955.2 25099.1 24900.9 0.73%
NI225 19141.9 19152.4 19034.8 0.61%