Kelly remains Westpac CEO—spokesperson

Contrary to reports the bank’s chairman endorses Kelly as she provided strong leadership to the bank.

Westpac has strongly denied a report that it is looking to replace chief executive Gail Kelly, saying there was “absolutely no truth” to the speculation.

Industry newsletter Banking Day earlier reported Westpac's chairman Ted Evans had given executive search firm Egon Zehnder a mandate to begin a search for a new chief executive. The same search firm was responsible for recruiting Mrs Kelly to the bank in 2008.

But a Westpac spokeswoman dismissed the report as “completely false” adding no appointment of a search firm has been made.

“There's absolutely no truth to that (report),” the spokeswoman said.

The report also appeared to contrast with Mr Evans' strong endorsement of Mrs Kelly at the bank's annual meeting last month.

View the full story in The Sydney Morning Herald.