Australia’s third-largest bank has announced the appointment of a new chief executive officer for the group.
Westpac has appointed Anthony Miller as group CEO and managing director, according to a statement, effective December 16. He succeeds Peter King, who will retire after a 30-year career at the Australian lender, including five years as CEO.
«In our search for a CEO, we looked for an executive who is customer-focused with a proven record of performance and a deep understanding of the Australian market,» commented Westpac chair Steven Gregg.
«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.»
25-Year Veteran
Miller has over 25 years of experience, most recently as the CEO of Westpac’s business and wealth division. Prior to joining Westpac in 2020, he was Deutsche Bank’s CEO of Australia and New Zealand as well as APAC co-head of investment banking. Previously, he also worked at Goldman Sachs for 16 years, including as a partner.
Miller will earn a base pay of A$2.5 million ($1.7 million) per annum. He will also be eligible for a A$2.35 million short-term bonus and a A$3.5 million long-term bonus if he meets his performance targets.
Westpac is the third-largest bank in Australia and one of the country's «Big Four» lenders, alongside ANZ, Commonwealth Bank and National Australia Bank.
