KEY POINTS:
The chairman of Bank of New Zealand, Mr Kerry McDonald today announced changes to the Bank's executive team.
Mr Peter Thodey, Bank of New Zealand managing director, has been appointed to a new role as group executive general manager at the Melbourne head office of National Australia Bank.
Cameron Clyne, who is currently executive general manager group development, National Australia Bank Group, and a Bank of New Zealand director, has been appointed as Mr Thodey's replacement.
In his new role, Mr Thodey will be responsible for developing and aligning the corporate and human strategies of National Australia Bank across the UK, Australian and New Zealand operations, and will work closely with John Stewart, National Australia Bank Group chief executive officer.
Mr McDonald says Peter Thodey leaves Bank of New Zealand in good heart and great shape.
"Peter leaves us after seven years of strong leadership as managing director, and a 27 year career with the Bank. He has made an outstanding contribution in leading the Bank in a highly competitive environment and in building a strong foundation for the future. "He has assembled an excellent leadership team with a real depth and breadth of talent. Peter's experience will be invaluable in his new role with National Australia Bank that will benefit the wider group, as well as the New Zealand business.
"On a personal note it has been a great pleasure working with Peter and I wish him all the best in his new role.
"I am delighted to welcome Cameron to his new role as managing director of the Bank. Cameron's experience as a Bank of New Zealand board member, familiarity with New Zealand and our market, and existing relationships with the leadership team will ensure a good transition during this important time.
"Cameron will be joining Bank of New Zealand on 20 February 2007 and will be assuming his new role in the second week of March."
- NZ HERALD STAFF
