Power to head Westpac Private Bank
(12 October 2011 – New Zealand) New Zealand cabinet minister Simon Power will take over as the head of Westpac Private Bank, a subsidiary of Westpac which deals with premium personal customers.
Westpac announced yesterday that the Ranitikei MP, who has been a National MP for 12 years and was tipped as the next party leader will instead be taking on a second career.
Power made a shock decision to stand down at the November general election, he is currently the commerce and justice minister.
'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 in a statement.
Westpac chief executive George Frazis said Power would bring a range of skills and experience to the position.
'We are enormously excited to be joined by someone with such an outstanding record of leadership and achievement at the highest level.'
Power made a shock decision to stand down at the November general election, he is currently the commerce and justice minister.
'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 in a statement.
Westpac chief executive George Frazis said Power would bring a range of skills and experience to the position.
'We are enormously excited to be joined by someone with such an outstanding record of leadership and achievement at the highest level.'
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