Westpac NZ says chief executive Peter Clare (pictured) is taking leave for a heart operation to correct a condition known about for some time.
In his absence, expected to be a couple of months, David McLean, currently managing director of the New York branch of Westpac's institutional operations, will be acting CEO. McLean was formerly general manager of Westpac NZ's institutional, private and wealth banking unit.
Here's Westpac's statement
Westpac New Zealand CEO Peter Clare is taking leave at the end of this month for a heart operation. This is to correct a condition that has been known about for some time. He is currently well however, given it can deteriorate with age it is important to have this surgery now. As with all heart surgery, there can be a reasonable period needed to recuperate and this is likely to be a couple of months.
To ensure good continuity until Mr Clare returns, New Zealander David McLean Managing Director of the New York branch of our Institutional Business but who previously was GM of Westpac New Zealand’s Institutional, Private and Wealth business, will be acting CEO.
Mr McLean built up an extremely solid reputation in the 10 years he was on the New Zealand Executive Team and understands the New Zealand business very well. He is looking forward to returning to Auckland for the period required.
Mr Clare has delivered excellent momentum and results since taking over as CEO and knows he is leaving the business in good shape until his return.
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