Business Services Industry
Banking on the rising young stars.
Australasian Business Intelligence, October, 2002
Oct 22, 2002 (The Australian Financial Review - ABIX via COMTEX)
Australian banks are undergoing a period of executive reshuffling. Some of this process is forced, as in the case of Michael Hawker, who left Westpac in late 2001 to go to Insurance Australia Group, where he is now CEO. Another case is Westpac's rising star, Mike Pratt, who was plucked from National Australia Bank's London team and is now in charge of consumer and business banking. Some analysts see Pratt as a likely successor to David Morgan as Westpac's CEO. However, another young career banker, Ann Sherry, might provide him with some opposition. DDI's David Tessmann-Keys says that Australian bank CEOs are increasingly being required to identify and mentor their own successor.
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