Westpac has appointed Paul Fowler to the position of chief executive, business and wealth, set to commence in the role mid-2025.
The position had been held in an interim capacity by Peter Herbert, the bank’s current chief operating officer, business and wealth. Herbert replaced Anthony Miller who stepped out of the role to become Westpac’s group CEO in December.
Now, Fowler joins Westpac from CBA, where he is executive general manager, regional and agribusiness banking in business banking.
Since commencing with CBA in 2015 he has also served as chief financial officer, institutional banking and markets, and as executive general manager, mergers and acquisitions.
Prior to joining the big four bank, Fowler spent over a decade in corporate finance, with roles at Goldman Sachs and Citigroup, predominantly advising financial institutions, in both Australia and offshore.
“Paul has built an impressive track record of success over a long career, most recently leading business banking across regional Australia for CBA,” Miller said on Tuesday.
“I know Paul will bring a strong customer focus, experience in leading high-performing teams and a drive for results in this important segment of the market for Westpac.”
The CEO also thanked Herbert for his service in the interim.
“Since my appointment as Westpac CEO, Peter has done a superb job of driving momentum and focus in the division and I thank him for stepping in to act in this role during a critical transition period.”
In December, Westpac’s chief financial officer (CFO) Michael Rowland confirmed his intention to retire, having served in its executive team for more than four years.
Rowland’s announced departure, which will take effect later this year, came the same week that Miller officially stepped into the role as chief executive, with his appointment having been first announced in September.
But with the bank’s CFO position set to be vacant, Westpac has a number of roles that need filling within its executive team.
Namely, group executive for human resources, Christine Parker, also announced last year that she would also be retiring after 17 years with the company.
