Westpac picks Simon Power as Head of Private Bank

The outgoing Cabinet Minister eyed to bring an array of skills and experience to the position.

Outgoing Cabinet Minister Simon Power has been appointed as head of Westpac Private Bank, it was announced on Tuesday.

Power, 41, will join the bank in January 2012 replacing Richard Jarrett who has been in the role since 2006.
Westpac currently holds the Government's banking contract.

Power says he is looking forward to a new challenge.

"This is the beginning of a new and exciting chapter in my career," Power said.

"One of my objectives after leaving Parliament is to contribute to the growth of New Zealand in the private sector and I feel that with my experience in working with and implementing change I can do that."

View the full story in TVNZ.