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BNZ names Michelle van Gaalen to new role as director of strategy and business performance

BNZ names Michelle van Gaalen to new role as director of strategy and business performance

BNZ has appointed Michelle van Gaalen, most recently a consultant, to its executive team in the new role of director of strategy and business performance.

In a statement BNZ CEO Andrew Thorburn said although taking up a new role, van Gaalen would replace Paul Suma, currently general manager for the office of the CEO, who will return to BNZ's parent National Australia Bank in June.

Van Gaalen began her career at BNZ in 1983, Thorburn said, and has since worked for Telecom, Westpac and NZ Post, and most recently worked as a consultant for corporates developing and implementing business strategies, - although not for BNZ.

"Michelle is a talented senior leader who has worked at executive level. I’m delighted to welcome her to the team, especially considering that Michelle began her career at BNZ in 1983 and is now returning to take on one of the most senior roles in our organisation," said Thorburn.

He said Suma had "successfully driven efficiencies" for the office of the CEO and leadership of the bank’s strategy review. Van Gaalen's appointment lifts the number of women on BNZ’s executive team to five, more than half of the bank’s nine executive team members. She will join BNZ in June with her appointment subject to Reserve Bank approval.

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3 Comments

Let's hope Michelle has a plan to reverse BNZ's slide into OBR oblivion and the RBNZ is listening at her approval meeting. 

 

In January Moody's highlighted that, at more than 140%, the New Zealand banking sector has the highest loan-to-deposit ratio out of 13 Asia-Pacific countries. Of the big four banks, S&P figures as of December 31, put ANZ's at 135.9%, ASB's at 136.6%, BNZ's at 162%, and Westpac's at 147.4%. Kiwibank's was 109.9%  Read more

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Like many of her previous roles, she'll last no more than a couple of years before they'll have to get rid of her.

 

A great competitive advantage to BNZ's competitors!

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Nice one Stephen,Then all we need is the value and or percentage of the big 4s, offshore loans (deposits) so we can put these together and get a more accurate picture of the overall real loan to deposit ratio.

Regards

Kevin

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