Former Westpac CEO to chair FSC

Former Westpac chief exective David McLean is to be the new Chairman at the Financial Services Council. He takes over from Rob Flannagan who has been in the role for more than a decade.

FSC Chief Executive Kirk Hope said McLean brings a wealth of governance experience and a strong background in the financial services sector "that will be of significant benefit to the FSC and our members.”

McLean said: “Financial services underpin New Zealand’s economic resilience and contribute directly to the financial wellbeing of New Zealanders - through retirement savings, life and health insurance, and strong capital markets."

"I am pleased to accept the appointment as Independent Chair of the Financial Services Council and look forward to supporting outcomes that benefit both the industry and New Zealanders.”

McLean is the Chair of the New Zealand Memorial Museum Trust, which has established Te Arawhata, the NZ Memorial Museum in Le Quesnoy, France.  His other roles include Chair of Kiwi Group Capital, Weel Holdings Pty, and a member of the Council of Te Herenga Waka - Victoria University of Wellington. David retired after seven years as CEO of Westpac NZ in June 2021 having had a career as a lawyer and banker, and is a former chair of KiwiRail, the NZ Bankers Association, Champions for Change, and a former chair, and Distinguished Fellow, of INFINZ.