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Kelly leaves St George for Westpac

Kelly leaves St George for Westpac

(17 August 2007 – Australia) Gail Kelly has resigned from St George Bank and will replace David Morgan as Westpac managing director and chief executive officer, starting on 1 February 2008. St George head of Retail and Wealth Management Paul Fegan has been appointed acting CEO while the bank searches for a replacement for Kelly.

Kelly joined St George as chief executive officer of St George in 2001 from Commonwealth Bank where she was head of CBA’s Customer Service Division. She moved from South Africa to join CBA in 1997.

In announcing Kelly’s appointment, Westpac focussed on the growth in St George’s business banking franchise during her tenure.

Westpac said that St George had grown its national market share in the Commercial Middle Market segment from less than five percent to more than eight percent.

Westpac chairman Ted Evans paid tribute to the outgoing Dr Morgan. He said Morgan had transformed Westpac into a truly integrated financial services company, widely recognised globally for its corporate responsibility and sustainability program.

St George chairman John Thame said the board had enjoyed working with Kelly and wished her the best in her new role.

Kelly said she was very honoured to have had the opportunity to serve as chief executive of St George over the past five and a half years.

"This is a special organisation with wonderful people and I have loved working within it. I would like to thank the board and management and to wish the team as a whole success in the future," she said.
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