Bank merger management team confirmed

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Gary Leech is the proposed chairman of the company resulting from the possible Loan and Building Society (LBS) and Canterbury Building Society (CBS) merger.

Mr Leech, who is currently the director of LBS, will have his position reviewed later this year, along with the other senior managers, reports the New Zealand Herald.

CBS chief executive David Street is to be appointed interim chief executive of the merged companies, while the position of merger project manager is to go to LBS general manager John Moore.

The union date is scheduled for Friday February 1st, but meetings have been organised to vote on the merger on January 23rd and 24th.

In November, CBS issued a statement which indicated that these meetings had been put back to January instead of an initially-proposed December date.

"As a result of delays caused in obtaining various statutory and regulatory approvals together with the time required to print the various documents these meeting will now be held in January 2008," it said.