Westpac IB head resigns
(24 June 2009 – Australia) The head of Westpac’s institutional bank, Phil Chronican has decided to leave after a 27 year run at the bank.
Chronican joined Westpac in 1982 and has held a variety of positions in both Australia and New Zealand. Chronican said that the time was right to look for new and different challenges in the next stage of his career.
Prior to his current role, he was Chief Financial Officer for a period of five years, during which time he had a broad portfolio including finance, treasury, strategy and risk.
The Westpac announcement noted that Chronican played a pivotal role in the rebuilding of Westpac after the major performance issues in the early 1990’s.
The resignation has caused a small reshuffle within the bank, with Chronican’s position as head of the institutional bank already filled. Westpac announced Rob Whitfield will be appointed to the role, as Group Executive, Westpac Institutional Bank.
Whitfield, a 23 year veteran of the bank, is currently Group Executive, Risk Management and has broad experience across the Institutional Bank business. During 2008, he was accountable for the development and execution of the St George merger transaction, demonstrating exceptional strategic and leadership capabilities.
Further, the bank announced that Greg Targett will be appointed as Chief Risk Officer. Targett is currently Deputy Chief Risk Officer, and was previously Chief Risk Officer at St George prior to the merger.
The new appointments take place on July 2, 2009.
Prior to his current role, he was Chief Financial Officer for a period of five years, during which time he had a broad portfolio including finance, treasury, strategy and risk.
The Westpac announcement noted that Chronican played a pivotal role in the rebuilding of Westpac after the major performance issues in the early 1990’s.
The resignation has caused a small reshuffle within the bank, with Chronican’s position as head of the institutional bank already filled. Westpac announced Rob Whitfield will be appointed to the role, as Group Executive, Westpac Institutional Bank.
Whitfield, a 23 year veteran of the bank, is currently Group Executive, Risk Management and has broad experience across the Institutional Bank business. During 2008, he was accountable for the development and execution of the St George merger transaction, demonstrating exceptional strategic and leadership capabilities.
Further, the bank announced that Greg Targett will be appointed as Chief Risk Officer. Targett is currently Deputy Chief Risk Officer, and was previously Chief Risk Officer at St George prior to the merger.
The new appointments take place on July 2, 2009.
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