Proud New Zealander David McLean has been appointed chief executive of Westpac New Zealand after performing an “outstanding” job acting in the role since August 2014 following the resignation of Peter Clare. McLean’s appointment will be highly popular with bank executives and staff. A “people person” he is credited with bringing the bank together again after a bruising period under …

Synlait Milk, the listed dairy processor, has cut its forecast market milk price for the 2014/2015 season along with a corresponding decrease in advance rates to farmers due to depressed global dairy prices.  The Canterbury-based company lowered its forecast payout to $4.40 per kilogram of milk solids from a previous forecast of $5.00/kgMS, it said in a statement. The move follows dairy …

Summerset Group Holdings, the listed retirement village, has been granted resource consent for its $80 million Wigram village, its first in Christchurch. The new site will have some 200 units, including villas, townhouses and care apartments as well as 50 hospital-level beds, the Wellington-based company said in a statement. Building will begin next month with first homes opening late next year. …