test update: Westpac has announced the appointment of John McFarlane to the bank’s board as non-executive director and chairman-elect.

Mr McFarlane will succeed chairman Lindsay Maxsted on April 2 but will begin his role as director in February subject to regulatory approvals.

Most recently Mr McFarlane was the chairman at Barclays bank in London, and during his time there he helped the company to streamline and return to profit.

“Mr McFarlane is not only well known in Australia and New Zealand but is a respected banking leader globally who brings to our organisation more than 44 years experience in financial services,” Mr Maxsted said.