PSIS appoints new CEO

Dr Karacaoglu replaces John Price who stepped down from the position in November.

PSIS said Dr Karacaoglu had had a broad range of experience in the financial services sector, including senior positions with Westpac, Prudential Assurance and the National Bank .

He had also worked at the Reserve Bank of New Zealand and lectured at the Victoria University of Wellington.

PSIS chairman David Gascoigne said the board was very pleased to attract an executive of Dr Karacaoglu's experience.

The company expects its results from this current financial year will be above budget and well ahead of the position last year.

A recent banking survey saw PSIS, for the third consecutive year, take the top position among all banks, Mr Gascoigne said.

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