BNZ restructures team

Press, 17 January 1989, Page 25

BNZ restructures team

A restructuring of the Bank of New Zealand’s senior executive team has been announced by the group chief executive, Mr Bob McCay. Mr McCay said the restructuring of executive positions had been made with the objective of positioning BNZ to deal with the next phase of competition in the New Zealand market. “Under deregulation competition was initially most intense in the corporate and foreign exchange sectors. “Everyone is aware of the significant changes which have taken place in these sectors since the stock exchange crash and we don’t anticipate a great deal of business growth in these areas in the short term. “Instead competition is likely to become more vigorous in the domestic market,” he said. Under the new structure, Mr Ron Mear, as deputy group chief executive, is

responsible for financial management, group information systems and group properties. Mr Peter Travers, general manager for New Zealand, is responsible for strategic direction and operation of retail banking and investment services within New Zealand; Mr Tom Tennent, general manager of corporate services and credit is responsible for corporate affairs, human resources and group credit; and Mr Graeme Pentecost, general manager investment banking, is responsible for corporate financial services, treasury and offshore operations. Mr John Callam, senior chief manager New Zealand network, is responsible for branch network, management services and network development; while Mr Errol Hanna has taken up the position of senior chief manager corporate services responsible for corporate affairs and group services.