Westpac appoints former Deutsche and Goldman Sachs executive to the top job

Westpac Banking Corporation (ASX:WBC) has appointed a new Group CEO and Managing Director – Anthony Miller – replacing Peter King, who has been in the former role for five years, and with the bank itself for 30.

Mr Miller is currently Chief Executive of Westpac’s Business & Wealth division, and his prior experience in executive roles included working at Deutsche Bank as CEO of the Australia/New Zealand division and Co-Head of Investment Bank, APAC.

He was also a Partner at Goldman Sachs, having spent 16 years working there.

Westpac Chair Steven Gregg said Miller’s extensive experience in the sector would position him as a strong leader in this role.

“Anthony is an exceptional leader. He’s an individual of integrity and he’s ready to lead
Australia’s oldest company,” he said.

“He has deep expertise in financial services and global banking and has built a considerable track record of delivery over 25 years.

“Anthony is ambitious for the future of Westpac and its customers. 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 & Wealth, restoring growth and focusing on
customers.”

Gregg also acknowledged the efforts and initiative of Peter King in the role.

“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,” he said.

Westpac shares moved down on the news, and by 12:15 AEST, they were trading at $31.67 – a fall of 1.34% since the market opened.