Anthony Miller named new CEO of Westpac
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The news: Banking major Westpac’s board has named its business and wealth division head, Anthony Miller, as the group’s incoming CEO and managing director when Peter King steps down from the role later this year.
The numbers: Miller will start his new role on 16 December. He will succeed King, who will retire after a 30-year career at Westpac, including five years as CEO.
The context: King’s term was focused on turning around the fortunes of Australia’s oldest bank after it was embroiled in breaches of anti-money laundering laws, which it ultimately settled after agreeing to pay a record $1.3 billion penalty to financial crimes regulator AUSTRAC.
Miller, who joined Westpac in 2020 as head of its institutional bank, has previously served as Deutsche Bank’s CEO for Australia and New Zealand, and also spent 16 years at Goldman Sachs.
What they said: “As an internal appointment Anthony knows what needs to be done and will move at pace, ensuring a seamless transition,” Westpac chair Steven Gregg told investors.
The source: ASX announcement
