Westpac reshuffles its aces

In a sign that the succession planning at the bank is leaning towards an internal candidate when Mrs Kelly calls time, Rob Chapman has been promoted from managing director of BankSA in South Australia to run St George.

Mr Chapman will replace Greg Bartlett, an 18-year St George veteran who was appointed chief executive of the once-independent regional bank following its $12 billion merger with Westpac in December 2008.

Mr Bartlett will retire in four months, on the second anniversary of being appointed to the role after St George's then chief, Paul Fegan, opted for a payout rather than join the enlarged group.

Mr Chapman was thought then to have been a candidate to replace Mr Fegan, but it is believed he wanted more time at Bank SA, the state's most successful bank.

He took on that role in July 2002 as part of Mrs Kelly's new management team at St George, after she joined the NSW-based bank as managing director.

Mrs Kelly spent six years at St George, before moving to Westpac in February 2008 and launching a successful takeover bid for her former employer 10 months later.

Yesterday she praised Mr Bartlett's efforts and said Westpac was "very fortunate" to have an executive of Mr Chapman's standing to take the St George CEO job.