Westpac appoints Carolyn McCann as CEO of its consumer business

The news: Westpac has appointed long-serving executive Carolyn McCann as chief executive of its consumer business, effective immediately.

The context: McCann has worked at the banking major for more than 12 years, and has served as acting chief executive of the consumer division since May. She previously spent nearly 12 years at insurance group IAG.

What they said: "Under Carolyn's leadership, Westpac's operations teams have dramatically improved customer outcomes, including mortgage processes, where decision times have been reduced from twelve to five days," said Westpac CEO Anthony Miller.

"Scam protection has been significantly upgraded with market leading solutions reducing losses by 40%, and complaints handling processes have been transformed."