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Opportunity knocks for bank’s MD

AFTER seven years at the helm of BankWest, Terry Budge is entering his last month in what was one of WA’s highest profile corporate roles.

With the delisting of BankWest through a takeover by its biggest shareholder, HBOS, last year, the role is much less public.

In the wake of Mr Budge’s impending departure from the group managing director’s seat, it is expected his replacement will take a markedly different role that will need to fit with a new, over-riding position being created to run HBOS Australia.

Mr Budge says his last day at the bank will be May 12, ending a long career in the industry – including 25 years at National Australia Bank before joining BankWest in May 1997 to replace Warwick Kent, the former Westpac executive who had presided over BankWest’s privatisation.

Mr Budge remains as the WA president of the Australian Institute of Company Directors.

He plans to spend time looking at opportunities, he says, most likely in the role of directorships, but won’t be rushed into things, even though the offers have already started rolling in.

Mr Budge leaves the bank in a solid position, having grown the business from its WA base while maintaining a strong position in its home market.

 

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