Westpac has appointed National Australia Bank (NAB) group executive George Frazis as the new chief executive of its New Zealand division, effective April 2009.
Frazis is currently NAB group executive general manager for development and new business. He has held other senior roles including NAB executive general manager for business and private banking, and Commonwealth Bank of Australia senior executive for institutional banking.
Frazis replaces Brad Cooper, who was appointed Westpac group chief transformation officer for Australia in June this year.
Westpac chief executive Gail Kelly said Frazis would make a strong contribution to the overall Westpac executive team.
"George brings to Westpac New Zealand strong strategic and operational skills, built up in a diverse range of roles within the financial services sector," she said.
"His track record leading major business divisions will ensure Westpac New Zealand continues its recent improvement in financial performance and customer advocacy."
Kelly also thanked Bruce McLachlan, who has been acting Westpac New Zealand chief executive since Cooper's appointment earlier in the year.
McLachlan will resume his position of general manager for the consumer division within the New Zealand business, Westpac said.
Commenting on Fazis' appointment, a NAB spokesperson said it is business as usual at NAB and that a replacement will be announced in due course.
