MLC chief heads for Westpac

Respected financial services executive David Clarke has quit his spot as MLC chief executive to take on a senior financial services post vacated by David Fite earlier this year.

Respected financial services executive David Clarke has quit his spot as MLC chief executive to take on a senior financial services post vacated by David Fite earlier this year.

Clarke’s move comes just weeks before Lend Lease and the National announce the shape of their merged funds management business.

Clarke was also a member of the Lend Lease board. Another member of the board, Peter Will-cox, also announced his resignation from the board yesterday.

Westpac managing director David Morgan says Clarke has taken on the position of group execu-tive of banking and financial services solutions vacated by Fite, who moved to Japan to take up a financial services post.

"David has a breadth of experience, in both Australian and global financial markets at the highest levels," Morgan says.

"In particular, David's appointment further strengthens Westpac's expertise in funds manage-ment."

Clarke will have overall responsibility for integrating product solutions across personal and busi-ness lending, cards, Westpac Financial Services and Westpac subsidiary Australian Guarantee Corporation (AGC).

Before joining Lend Lease in 1993, Clarke held a variety of senior positions at the Lloyds Bank Group. He is scheduled to join Westpac later in July.