The bank has appointed a former ANZ executive and KPMG partner as its new CFO.
Michael Rowland will step into the role of Westpac CFO, replacing Peter King following his appointment to the position of CEO. He joins Westpac from KPMG, where he has been a partner in management consulting since 2014.
“Michael’s experience is broad across both CFO and business leadership roles,” Mr King said. “His most recent experience in consulting as a senior partner at KPMG also brings valuable external perspectives.
“In particular, Michael’s expertise in business restructuring, delivering sustainable productivity and revenue programs and in disciplined financial management will be an important contributor to making Westpac a simpler and stronger bank.”
From 1999 to 2013, Mr Rowland has held the positions of ANZ’s CFO for institutional banking; CFO New Zealand; CFO personal financial services; and business leadership roles as CEO Pacific and general manager for transformation. Following the creation of the ANZ/ING joint venture in 2002, he served as ING Australia’s CFO until 2004.
“I’m delighted that Westpac has attracted someone of Michael’s calibre,” Mr King said.
Mr Rowland was also finance director at AMRAD from 1995 to 1999, and holds a bachelor of commerce from the University of Melbourne and a graduate diploma of taxation law from Monash University. He is a fellow of the Institute of Chartered Accountants in Australia and New Zealand.
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