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Westpac financial services boss named CEO

A former chief executive of Westpac's Australian financial services business has been appointed CEO of the banking group as Gail Kelly announces her retirement.

Brian Hartzer - who currently heads up financial services, which includes responsibility for BT Financial Group - will take up the reins at the banking giant following Ms Kelly’s resignation, according to a statement to the ASX.

“On behalf of the board I want to thank and acknowledge Gail’s leadership and outstanding contribution to Westpac,” the bank's chairman, Lindsay Maxsted, said.

“Gail is one of Australia’s most successful CEOs. During her tenure the value of the company has more than doubled, with market capitalisation increasing from just under $50 billion to around $104 billion.”

Mr Hartzer has 25 years' experience in financial services and is a former CEO of ANZ's Australian operations.