Guidance for the Directors of Banks - IFC

Independent director of Kiwibank Ltd, and chair of the bank's finance, audit ... in New Zealand and internationally. ..... account the interests of other recognised stakeholders, and ..... Reserve “drew a line” under its own exposure to the U.S. banking market when it ...... management, and allowing open debate and discussion.
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IFC Corporate Governance Knowledge Publication

11 FOCUS

Guidance for the Directors of Banks

Richard Westlake, MA (Oxon.) Foreword by Léo Goldschmidt

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Guidance for the Directors of Banks Richard Westlake, MA (Oxon.)

IFC Global Corporate Governance Forum Focus 11

About The Author Richard Westlake is based in New Zealand, where he established Westlake Governance, an international governance advisory business, in 1999. He has more than 20 years’ experience as a board chair and director and currently chairs several boards in different sectors. He has spent more than 30 years in the banking industry: • As a money market dealer for a subsidiary of Chase Manhattan Bank; • Corporate banking roles in New Zealand and Australia; • Chief operating officer for Barclays PLC in New Zealand; • Chief executive of a New Zealand regional bank; and • I ndependent director of Kiwibank Ltd, and chair of the bank’s finance, audit and risk committee from its establishment in 2002 until 2011. Richard is keenly sought after as a facilitator and presenter of director development programs in New Zealand and internationally. Most recently he worked with IFC’s Global Corporate Governance Forum on training-of-trainers programs in Indonesia, aimed particularly at building governance capability in the banking sector in Indonesia and East Asia. Before moving from England to New Zealand, Richard gained his MA at Oxford University, where he won a Rowing “Blue” in the 1973 Oxford versus Cambridge Boat Race. He trained as a fighter pilot in the Royal Air Force, and his first leadership appointment, at age 22, was running a 4,500-person refugee camp in Cyprus. Richard is an Accredited Fellow of the Institute of Directors in New Zealand and an International Fellow of Mudara – Institute of Directors in Dubai, United Arab Emirates. He is married with four adult children.

Preparation and publication of the Governing Banks was made possible with the support of the Development Bank of Austria (OeEB).

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Guidance for the Directors of Banks

Table of Contents Foreword ......................................................................................................................................... IV A Note from the Author................................................................................................................... V Glossary ..................................................................................