​Major bank loses deputy chairman

by 11 Feb 2014
Westpac has announced the long-time deputy chairman John Curtis will step down from the bank’s board in April.

Chairman Lindsay Maxsted yesterday acknowledged Curtis’ decision to move into retirement after more than five years on the banks board.

“John has played an important role in key strategic initiatives during his tenure, including the smooth transition through the St George merge, guiding the Westpac Group through the global financial crisis, and helping build a strong portfolio of brands,” said Maxsted.

“John’s broad experience across many sectors of Australian business, his astute commercial acumen and deep understanding of the financial services industry have been invaluable over the past six years and we will miss him greatly.”

Curtis was previously the chairman of St George Bank, which was taken over by Westpac in 2008.

“I leave knowing that the Westpac/St George merger has been an outstanding success,” said Curtis.

“It has brought substantial benefits to all shareholders and customers of the former Westpac and St George banks, and provided excellent opportunities for employees to be part of the larger and stronger Westpac Group.”

Curtis thanked CEO Gail Kelly for “outstanding leadership” and acknowledged the support of the management team and chairmen.

“It has been a privilege to represent shareholders on the Westpac Board and to work with my director colleagues. I am confident that Westpac will sustain and build on its standing as a leading bank and widely respected organisation.”

Curtis is also currently chairman of Allianz Australia Limited and of Westpac’s Board Remuneration Committee.