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)

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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)


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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7359 -0.0127 -1.70%
AUD 0.9539 -0.0079 -0.82%
EUR 0.6784 -0.0004 -0.06%
GBP 0.4890 -0.0021 -0.43%
HKD 5.7085 -0.0993 -1.71%
JPY 89.0160 -0.8890 -0.99%

Commods

Commodity Price Change Time
Gold Index 1198.1 -1.940 2015-03-05T00:
Oil Brent 61.0 -0.700 2015-03-05T00:
Oil Nymex 52.5 -0.730 2015-03-05T00:
Silver Index 16.1 0.000 2015-03-05T00:

Indices

Symbol Open High Last %
NZX 50 5856.8 5903.6 5856.8 0.79%
NASDAQ 4967.2 4982.9 4982.8 -0.82%
DAX 11513.9 11600.4 11504.0 0.41%
DJI 18096.9 18160.3 18096.9 0.21%
FTSE 6961.1 6961.2 6961.1 -0.71%
HKSE 24235.8 24294.4 24193.0 -0.12%
NI225 18814.8 18979.6 18751.8 1.17%