New Westpac CEO Brian Hartzer has made changes on his first day on the job

FMX riders perform during Nitro Circus Live at Westpac Stadium on January 24, 2015 in Wellington, New Zealand. Hagen Hopkins/Getty Images

Brian Hartzer, the new CEO of Westpac replacing Gaily Kelly, has made management changes on his first day in the job.

He’s appointed David McLean as CEO of Westpac New Zealand.

Hartzer says McLean had done an outstanding job acting in the role since August 2014 following the resignation of Peter Clare.

“David is one of New Zealand’s most experienced bankers with extensive knowledge of Westpac’s operations, having been with the Group for 16 years in a number of senior positions across both retail and institutional banking,” says Hartzer.

Hartzer has kept the same executive team which worked with Gail Kelly but has changed some responsibilities.

He’s got rid of Australian Financial Services as a division. The CEOs of Westpac Retail & Business Banking (Jason Yetton), St George Banking Group George Frazis) and BT Financial Group (Brad Cooper), now report directly to Hartzer.

“This model will preserve the strength of our unique portfolio of brands while maintaining the one team approach that has been a feature of Westpac’s success,” Hartzer says.

The technology function will now report directly to Hartzer rather than through the Chief Operating Officer.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.