BNZ cuts executive committee to 6 from 9; Blair Vernon to leave (Update 1)

BNZ cuts executive committee to 6 from 9; Blair Vernon to leave (Update 1)
BNZ has slimmed down its executive committee to 6 from 9 and combined its strategy and marketing unit with its Banking Delivery Services (BDS) operation. Current General Manager of Strategy and Marketing Blair Vernon will leave the bank next Friday after 13 years, BNZ said. (Updated to include more background on Stephen Mockett) The newly combined division will be headed up by Stephen Mockett as Chief Operating Officer. Mockett, a Christchurch born executive, has just returned from four years in Australia. BNZ Capital and BNZ Partners would also combine into one business unit and the head of that unit had yet to be named. "I have been in the CEO role at BNZ for nine months, so these are considered changes and I believe they put in place the right structure going forward," BNZ CEO Andrew Thorburn said. "It creates a smaller team at the Executive Committee level and allows us to look at the business through a new lens. We'll be complementing the existing banking skills and knowledge with fresh insights from other industries." Prior to joining BNZ, Mockett was Executive General Manager Corporate Services and General Counsel for Downer EDI Limited, an ASX top 100 engineering services company. Previous senior roles with Downer include GM Organisation and Executive Development, GM Bitumen Supply Ltd and Executive GM Human Resources, Marketing, Legal Affairs and Procurement. Prior to Downer his career included senior management consultant roles with Morgan & Banks New Zealand, and Watson Wyatt. He was a co-founder and Director of The Swann Group New Zealand Ltd; a consulting firm specialising in succession transitions for SME owners.

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