Movers & Shakers | November–December, 2019

Movers & Shakers

November saw a number of high-profile appointments and departures across the local financial services industry, with noteworthy additions to Westpac, CBA, and AIG.

Westpac has announced several changes to its executive and Board following revelations of the AUSTRAC AML/CTF breach investigation:

  • Current Chief Financial Officer, Peter King has been appointed Acting Chief Executive following the resignation of Brian Hartzer. A new permanent Chief Executive is expected to be announced after a new Chair is appointed next year.
  • Chief Operating Officer Gary Thursby has been appointed Acting Chief Financial Officer.
  • General Manager Commercial Banking, Alastair Welsh, has been appointed Acting Group Executive Enterprise Services.
  • Lindsay Maxsted, Westpac Board Chair, has also confirmed he will bring forward his retirement as Chair to the first half of 2020. Additionally, Ewen Crouch, Westpac Director and Chair of the Board’s Risk & Compliance Committee, will step down before the bank’s next Annual General Meeting in December 2020.

The Commonwealth Bank of Australia (CBA) has appointed Mike Vacy-Lyle to the position of Group Executive Business and Private Banking. The appointment follows the resignation of Adam Bennett, who will depart at the end of January 2020.

American International Group (AIG), has appointed Nigel Fitzgerald to the position of Chief Executive of AIG Australia.

ME Bank has appointed Rosanna Fornarino to the position of Chief Operating Officer.

The Australian Financial Complaints Authority (AFCA) has appointed Anna Campbell to the newly-created position of General Counsel. AFCA has also appointed Justin Untersteiner to the position of Chief Operating Officer.

Munich Re has appointed Alex Francois to head up its business development for its Australia and New Zealand arm.

ANZ has appointment Paul O’Sullivan to its Board.

Vanguard has appointed AMP’s former Director of People, Maxim Tambling, to the position of Head of Human Resources.

Findex has appointed former Head of People for ANZ and NAB Jane Betts to the position of Chief People Officer.

IAG has appointed Simon Allen as Independent Non-Executive to its Board.

Colonial First State has appointed Greg Cooper as Independent Non-Executive Director to its Board.

CBA has announced the resignation of Jason Yetton, Chief Executive of NewCo.

AMP has announced the resignation of its Head of Media Relations, Catherine Woods.

CareSuper has announced the resignation of its Executive Manager of Operations, Rachel Reynolds.

New Zealand

The Reserve Bank of New Zealand (RBNZ) has announced the creation of a new Assistant Governor position. As a result, the role of Assistant Governor/General Manager of People and Culture, currently held by Lindsay Jenkin, will be disestablished. The RBNZ has yet to announce an appointee to the new Assistant Governor position.

Kiwibank has announced Dr Susan Macken will not be seeking reappointment as Board Chair.