KEY POINTS:
SYDNEY - Australia's Westpac Banking Corporation has announced St George Bank chief executive Gail Kelly will take the reins of the company when its current CEO, David Morgan, retires in February next year.
The long rumoured appointment was announced in a statement by the bank's chairman, Ted Evans.
"The Board is delighted to welcome Gail to Westpac. She is a proven chief executive whose values are closely aligned to the Westpac culture," Mr Evans said.
"It is clear Gail has the energy, skills and experience we need."
Mrs Kelly said she was looking forward to taking up the challenge of the Westpac role.
"I am truly delighted to have been offered this wonderful opportunity of taking up the position of CEO of Westpac," she said.
"I am looking forward to commencing in February 2008 and working with the team to take what is clearly a very strong organisation to the next stage."
- AAP
