12 Oct 2011

Power to head Westpac private bank division

2:00 pm on 12 October 2011

Outgoing government minister Simon Power has joined the Australasian-owned bank Westpac New Zealand.

Mr Power, 41, is leaving Parliament after 12 years to become head of Westpac's private bank division, which caters for its wealthy personal customers.

He is the Minister of Commerce, Justice and Consumer Affairs, an Associate Minister of Finance and the minister responsible for the Law Commission.

Mr Power, who announced his intention to leave Parliament earlier this year, will start his new job in January.

Westpac's David McLean says Mr Power brings a range of skills and experience to the bank, including very strong leadership and business acumen, good contacts around the country, and an affinity for working with people.

"We think he'll have a strong customer focus, based on his personality", Mr McLean says.