Local board for Wales-CBA
The merging Wales-CBA banks in New Zealand will have a local board of four directors, Sir Noel Foley, chairman of the main board of the Bank of New South Wales, announced yesterday. The new directors are Mr John C. Fair, who was appointed chairman in April of this year, Mr Peter F. Polson. Admiral Sir Gordon Tait, and Mr R. W. R. White. Sir Noel said that the formation of a New Zealand board will give the merged
bank a stronger local protue, and will and ensure that its policies are developed in the best interests of New Zealand and the bank. “The main board was delighted that these well-known businessmen accepted the bank s invitation to join and form the local board." ’ he said. • - /
• Subject to enabling legislation the two banks are aiming at full integration in October under the new name of’Westpac Banking Corporation.
Mr Fair, chairman of Ceramco, Ltd, is a director and former chief executive of B.P. (New Zealand), Ltd.
and also a director of Steel and Tube Holdings. Ltd, Canterbury Frozen Meat, Ltd, Fletcher Challenge, Ltd, Maui Development Company, Ltd, Griffin and Sons, Ltd, Phoenix Assurance Company, Ltd (New Zealand Board), Todd Motor Corporation, Ltd.
Sir Gordon Tait retired from the Royal Navy, where he was Chief of Navy Personnel, Second Sealord and NATO Commander, Central Pacific. He is chairman of the Board of Trustees of the New Zealand Sports Foundation. ' ' Mr Polson who is chair-
man of Mair and Company, Ltd, is also a director of New Zealand News, Ltd, Lichfield (New Zealand), Ltd, Midland Coachlines, Ltd, and New Zealand Farmers’ Co-op Association of Canterbury, Ltd. Mr White, a former Governor of the Reserve Bank, is a director of B.P. (New Zealand), Ltd, New Zealand South British Insurance, Ltd and Aurora Group. Ltd.
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Press, 14 July 1982, Page 35
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303Local board for Wales-CBA Press, 14 July 1982, Page 35
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