WestpacTrust appoints woman as chief executive

Westpac Banking Corporation has appointed Ann Sherry as the new chief executive of Westpactrust.

Ms Sherry will be the first woman to head a New Zealand bank. She will take up her role on November 11 in Auckland where the bank, tipped to soon revert from WestpacTrust to the Westpac brand, has recently moved its headquarters.

WestpacTrust is New Zealand's largest bank and accounts for 20 per cent of Westpac Bank's total profits. It has more than 5500 staff and 1.3 million customers.

After joining Westpac in 1995, Ms Sherry headed the human resources function for the International and Institutional Bank and subsequently led a team managing human resources, change management and public affairs for Westpac's takeover of Bank of Melbourne, where she became chief executive in 2000.

She has extensive experience in government and was the first assistant secretary of the Office of Status of Women advising Australian Prime Minister John Howard.

Ms Sherry said she saw her priorities in New Zealand as building the business customer market share, increasing the focus on wealth management, enhancing online banking facilities and service, and increasing the mobility of the sales force to meet changing customer needs.

- NZPA