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CORRECT: Bank of New Zealand rings in executive changes

CORRECT: Bank of New Zealand rings in executive changes in product, customer service

(Fixes Peter MacGillivray's name in final paragraph)

By Paul McBeth

May 16 (BusinessDesk) - Bank of New Zealand chief executive Angela Mentis is ringing in more changes among her leadership team, with the heads of product development and customer service set to depart at the start of July.

The Auckland-based lender today announced director of products and technology David Bullock and director of customer fulfilment services Martin Gaskell will leave the bank from July 1, without citing a reason for their respective departures. Both joined BNZ's executive team in October 2014 and held various roles at the bank before their elevation.

Bullock was responsible for BNZ's product and customer solutions functions, and its technology, digital and enterprise security teams, while Gaskell was responsible for the bank's service and operations.

Mentis acknowledged their "significant contribution" had made to the bank and said in a statement that "the announcement of new executive appointments would be made in due course."

The local subsidiary of National Australia Bank this month reported an 18 percent increase in first-half profit, reflecting wider net margins on an expanding loan book. Mentis took the opportunity to reaffirm the bank's commitment to consumers as an Australian royal commission of inquiry into the sector highlighted some dubious practices on the other side of the Tasman, and spurred local regulators to demand the industry prove it's clean.

Mentis took over the reins from January, swapping positions with former CEO Anthony Healy who took over her previous role at NAB as chief customer officer business and private banking.

In April, BNZ director of transformation and enterprise performance Richard Griffiths and director of strategy and planning David Maloney left the lender less than a month after their exits were announced, while acting chief financial officer Peter MacGillivray took on the position permanently when ANZ executive Mandy Rutherford withdrew from taking up the role.

(BusinessDesk)

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