Hartzer vows to make Westpac a world class service business

Incoming Westpac chief executive Brian Hartzer has made it his goal to turn the bank into one of the "world's great service businesses". Speaking at a media conference called to announce that he would be taking over from retiring chief executive Gail Kelly in February, Hartzer said he would continue with the bank's current strategy.

Hartzer said: "I have been involved in working with Gail to develop the strategy that has been articulated. The focus is on digital transformation and customer service. I don't see a significant change to our strategy."

He also said he was looking for continuity in the bank's senior ranks. "One of our strengths is the top team. It is a one-team approach. This is a high quality group."

Kelly confirmed that she was retiring from executive life after 35 years in banking and not looking to run another company.

She is a member of the Group of Thirty, a non-profit consultancy on international economic and monetary affairs chaired by Paul Volcker; she is an ambassador for the humanitarian group Care Australia; and a member of the Council on Foreign Relations.

Kelly said: "I am full of energy and there are lots of things I hope I can make a contribution to. Watch this space."

She said the thing she was most proud of at Westpac was its culture. "This is a wonderful organisation made up of people who care deeply about customers."

Kelly said she was retiring at the right time. "It seems to me that the best time is when the bank is in good shape, it has momentum, the strategy is delivering and the succession plan is in place.

"I am delighted to be passing the reins to Brian."

She predicted that Hartzer would deliver a service revolution in Australian banking.