Westpac has appointed current business and wealth division chief executive Anthony Miller as group chief executive and managing director.
Miller, who is set to commence in his new role in December, will succeed Peter King, who will retire after 30 years at the group, including a five-year stint at its helm.
Prior to joining the bank, Miller was Deutsche Bank’s chief executive of Australia and NZ, and co-head of Investment Bank, Asia-Pacific.
Before this, he spent 16 years at Goldman Sachs, including as partner.
Commenting on the appointment, Westpac chair Steven Gregg clarified that, in its search for chief executive, the company was on the hunt for an executive who is customer-focused with a proven record of performance and a deep understanding of the Australian market.
“Anthony is that executive. He has a vision to return Westpac to a position of leadership and build on the foundational work of the past five years. As an internal appointment, Anthony knows what needs to be done and will move at pace, ensuring a seamless transition,” Gregg said.
“Anthony is an exceptional leader. He’s an individual of integrity and he’s ready to lead Australia’s oldest company. He has deep expertise in financial services and global banking and has built a considerable track record of delivery over 25 years.
“Since joining Westpac in 2020, he’s put the institutional bank on a path to reclaiming its leadership position. He’s spent the past year leading business and wealth, restoring growth and focusing on customers.”
Miller added that he seeks to build on King’s work to “unleash Westpac’s full potential”.
“Westpac is an exceptional company that plays a profoundly important role in the lives of millions of Australians,” Miller said.
“I want Westpac to be a bank built on trust and reliability – always there to help our customers through every one of life’s moments.
“I’m committed to growing the bank safely and sustainably, completing the customer outcomes and risk excellence transition and delivering UNITE, our business and technology simplification.”
Moreover, Gregg thanked King for his decades of service to Westpac, noting that the outgoing chief executive was at the helm of the company during the COVID-19 pandemic and through other regulatory challenges.
“Since then, Peter has provided much-needed stability to the bank while transforming risk management. He simplified the company’s portfolio of businesses and returned it to growth in key divisions. He’s now begun the critical task of technology simplification, which will continue under Anthony,” Gregg said.
“Peter’s time as CEO will forever be defined by his courage and commitment to Westpac. He leaves a significant legacy and we owe him a great debt of gratitude.”
