We’ve heard a lot of success stories of ordinary people who became successful in business by hard work, sheer luck or a combination of both. But there are also stories about people who seemed destined to becoming successful since they were born.
Brian Hartzer, the new CEO of the oldest bank and company in Australia, is one of the few whose future may have been shaped since he was born. Hartzer is taking over the job of Gail Kelly, who at 58 decided to retire from her enviable post as CEO of Westpac, with a package of $12.8 million a year. She is currently the highest paid bank CEO in Australia. Tangas Calvin Klein Baratos Now, that’s a pretty big shoe to fill in, for Hartzer.
When Kelly and Hartzer stood next to each other on November 13 to announce to the group executive team that Hartzer will become the new CEO of Westpac, the announcement was received with an approving gesture of standing ovation from everyone present.
Viewed from where they are, both Kelly and Hartzer looked every inch different from each other, based on whispers from banking industry insiders. Kelly is a natural people-person who started as a teller – the bottom of banking hierarchy, after working as a Latin teacher. She, like Hartzer is also incredibly good with numbers.
Those who have worked with Hartzer say he is a great banker, very commercial and hard-nosed. Bragas Calvin Klein Baratas His banking roots can be traced from consulting and got his line management experience in the United Kingdom. He was never a teller. But banking insiders agree that Hartzer is just “what you need in a bank.”
Gail Kelly is loved by everyone at Westpac and that can be attributed to her touchy natural ways. Brian Hartzer is nothing like that. Hartzer has his eye on leading a major bank for some years and as a retail banker, he understands how the industry will be transformed by digital technology.
Hartzer has been nominated for similar posts before. Comprar Bragas Calvin Klein ANZ appointed him as senior executive and was considered in the running for the top post which eventually went to current ANZ CEO Mike Smith. Calzoncillos Boxer Calvin Klein At ANZ, he covered the bank’s commercial banking, domestic retail and wealth management businesses.
Hartzer was CEO of Royal Bank of Scotland, UK Retail, Wealth and Ulster Bank, before he joined Westpac in 2012. His career move was driven by the opportunity presented to work with Gail Kelly. Comprar Calzoncillos Calvin Klein His move to Westpac earned him $8.6 million sign-on bonus. And since 2012, Hartzer had the benefit of seeing Kelly up close, as an incredible leader. He is currently on a package of $3.4 million a year comprised of $2.25 million in base pay plus short term incentives.
At present, Hartzer looks after a large part of Westpac’s businesses responsible for delivering about two-thirds of the bank’s $7.6 billion profit. He is responsible as Chief Executive of Australian Financial Services (AFS), for retail, wealth businesses and business banking, including Westpac’s, St George Bank’s and BT Financial’s business banking. He supports Westpac’s strategy of maintaining separate identities for St George, RAMS, Bank of Melbourne, and BankSA businesses.
Hartzer’s name surfaced after Westpac hired international search firms when Gail Kelly told the board of directors she wanted to retire. Through the international search firms, the bank wants to see what talent was available to take Kelly’s prestigious post which she held for the last seven years.
The search process also included internal review of potential candidates and that search came back with the 47-year old Hartzer, an Australian born in the United States, with 25 years of banking experience up his sleeves. His American twang was tempered by 15 years stay in Australia.
His resume is one that shows that he was born to lead, as his training for leadership would attest. Hartzer spent his learning years at the Choate Rosemary Hall School in Connecticut. It’s one of the 8 best schools in the United States, the equivalent of UK’s Eton, or Australia’s The King’s School or Sydney Church of England Grammar School.
Hartzer then went to Princeton University, a popular Ivy League college where he pursued European history. Boxer Calvin Klein Hombre He got his first job at First Manhattan, a consulting company. It’s in Princeton where he developed his passion for history, and he considers the opportunity to lead the oldest bank and oldest company in Australia an amazing honor, especially as the bank enters its third century.
His stint at Westpac saw him aligning with Kelly’s strategy. He took the lead role in driving the vision of CEO Kelly through the business.
His new post becomes effectively his in February 2015 but he isn’t expected to make any major changes to the executive team at Westpac. Gail Kelly, for her part, at the time she took the post, had spilled half the senior executives at Westpac. And since then, Kelly has built an amazingly strong leadership team with a very strong one team culture.
Hartzer said his priority will be to keep the strength of the bank in its financial performance and engagement with customers. Comprar Boxer Calvin Klein Calzoncillos Calvin Klein Baratos He will focus on developing people and the digital revolution in banking. He said that he wants Westpac to continue to invest in its people and its leadership quality in order to have world-class leaders who continue to develop other world-class leaders.
It is also in Hartzer’s agenda to ensure that Westpac becomes one of the world’s great service companies as it pushes the boundaries as it adapts to digital technology. In the banking world, digital payment services using new technologies are considered as threats to traditional banking practices.
And Westpac, like all the other banks in the world, envisions its customer base to be increasingly hooked to using digital channels. Tangas Calvin Klein Baratos Westpac, this year has launched a revamped platform for online banking, including new apps for Apple and Android platforms.
And in all these, Hartzer has a clear sense of vision of the customer needs and how technology is shaping the changes in banking.
Lindsay Maxsted, Chairman of Westpac along with Gail Kelly could be nothing but pleased with their choice. Kelly said, “I think we have made the perfect choice, the right person for the right role, at this time.” And what made it even more special is that the person was one of the key members of her own team.
And while Hartzer is not about to get paid as much as Gail Kelly, Hartzer will get a long term incentive in the form of shares but it will take longer for Hartzer to get the benefit of any share plan because of the new Westpac policy on equity awards which is now on a four-year plan instead of the previous 3-year plan. Details of Hartzer’s equity package are not yet known but to get an idea, other bank CEOs in Australia get packages around $10 million.