Westpac group chief executive Brian Hartzer announced the appointment of a new chief risk officer for the group.

Alexandra Holcomb will retire in 2018 after 21 years at Westpac Group (Westpac) and 35 years in financial services. For the past 3 years Holcomb has been Westpac’s chief risk officer, the firm said in a press release.

She joined Westpac in 1996 and has held a number of senior executive positions within Westpac Institutional Bank, as well as in group strategy and mergers & acquisitions.

David Stephen has been appointed to the role of chief risk officer for Westpac and will commence with the group during 2018. Stephen joins the bank from Royal Bank of Scotland (RBS) where he has been group chief risk officer since 2013.

Prior to RBS, Stephen held senior roles at Deutsche Bank and Credit Suisse First Boston. He also spent five years at ANZ as group chief risk officer, head of Risk – Institutional, and general manager Wholesale Risk.