11 October 2011

Honourable Simon Power to lead Westpac Private Bank

Westpac New Zealand has appointed the Honourable Simon Power as Head of Private Bank.

Mr Power, 41, will join the bank in January 2012 after serving as a Member of Parliament for Rangitikei the past 12 years and as a Cabinet Minister for the past three, including as Minister of Commerce and Associate Minister of Finance.

Westpac Chief Executive George Frazis said Mr Power brought a range of skills and experience to the position that fitted well with the purpose and focus of Private Bank. Westpac Private Bank delivers a relationship banking service to our premium personal customers.

“We are enormously excited to be joined by someone with such an outstanding record of leadership and achievement at the highest level” Mr Frazis said.

Mr Power says he is looking forward to a new challenge and a new environment.

“This is the beginning of a new and exciting chapter in my career. One of my objectives after leaving Parliament is to contribute to the growth of New Zealand in the private sector and I feel that with my experience in working with and implementing change I can do that,” he said.