Anthony Miller

Westpac has announced a new strategic direction for its community and philanthropic investment, aligning all efforts to address the critical issue of education.

Under this new approach, the Westpac, St.George, BankSA and Bank of Melbourne Foundations will combine resources and direct investment towards maths and reading programs in Australian primary schools.

Westpac CEO Anthony Miller says improving literacy and numeracy is one of the nation’s most pressing challenges and will unlock opportunities for a better future.

“When we invest in education, we’re investing in Australia’s future,” Miller said.

“Today, one in three Australian kids is not meeting the benchmarks we’ve set in numeracy and literacy¹. This gap almost doubles in some of Australia’s most disadvantaged communities.

“Every child deserves the chance to unlock their potential, no matter where they live or what challenges they face, and that starts with the basics – being able to read and do maths.

“We’re refining the focus of Westpac Foundation and uniting all our philanthropic and community investment programs to drive a greater impact and scale.”

Investing in leading education charities

Through the new program, Westpac will invest $3 million to partner with three leading education charities working to deliver systemic change in schools:

1. Australian Schools Plus. A not-for-profit organisation founded following a recommendation in the first Gonski review, driving equity in education so all young Australians have the opportunity to thrive. Westpac will work with Schools Plus to deliver a new coaching model proven to support school leaders to improve students’ maths and reading outcomes.
2. The Australian Business and Community Network (ABCN). A not-for-profit organisation dedicated to connecting students from under-resourced communities with mentors to enhance their educational and career opportunities. Westpac will work with ABCN to develop a new mentoring program, connecting school principals and business mentors to build leadership capacity in schools.
3. Springboard Trust. An organisation that delivers mentoring and leadership programs for school principals in New Zealand’s education sector. Similar mentoring opportunities will be provided to Westpac NZ employees.

New education grants

In addition, the Westpac Foundation will launch a new, single grants program to support education charities working with local schools and organisations helping to keep children engaged and able to learn. The grants will launch in 2026 and are expected to award approximately $4 million annually through:

• School Grants:  $1 million per year for three years via a principal partner to schools in need.
• Innovation Grants: Eight multi-year grants for local organisations, totalling $400,000 per year.
• Collaboration Grants: Two multi-year grants to drive long-term impact, totalling $200,000 per year across two partner organisations.

The new focus of the Foundation will complement the existing work supporting education that’s underway through the Westpac Scholars Trust, which has a $100 million commitment to award 100 scholarships each year to university students, researchers and social innovators.

Sherrill Nixon, CEO, Australian Schools Plus said: “This investment is an exciting step forward in addressing one of Australia’s most pressing education challenges. By focusing on literacy and numeracy, this partnership will support schools to deliver meaningful and lasting improvements for students.”

Phil Gardner, CEO, Australian Business and Community Network said: “Strong school leadership is an effective way to strengthen literacy and numeracy outcomes for students. When principals are supported by experienced business mentors, they can create the conditions for students to thrive and build the foundational skills that support learning now and into the future.”

Westpac Foundation will appoint former NSW Education Minister Adrian Piccoli to its Board to help ensure the new strategy makes a credible contribution to the sector.

Mr Piccoli said: “Significant and persistent disparities remain in education outcomes for Australian children facing social, geographic and educational disadvantage. Narrowing and ultimately closing this gap is key to increased future productivity and prosperity for this country.”

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Anthony Miller

Westpac has announced it will extend its moratorium on regional branch closures and pilot a new way to deliver banking services to regional communities through a new Community Banking Service.

Westpac first implemented a pause on regional branch closures in 2023 which was extended earlier this year until mid-2027. Today’s announcement means the moratorium will remain in place through to 2030.

The bank has also today unveiled a raft of new initiatives over the next five years that will grow and improve its regional banking services, including:

• Piloting a new regional Community Banking Service. Westpac will commence a pilot program in partnership with local councils to deliver a visiting banking service to three regional towns, with plans to grow over time.
• Upgrades to 50 regional branches. An investment of more than $65 million to renovate the bank’s existing regional network with a modern fit-out.
• Regional graduate program. Dedicated placements launching in 2026 across ten key regional centres, offering training, development and employment opportunities with fast-tracked career pathways for talent in the regions.
• Community support. More than $1.5 million annually for local events and sponsorships.

Westpac CEO Anthony Miller says the new measures follow a full review of the bank’s regional banking services.

“Strong regional communities are vital for a strong Australia, and we want to make sure these areas have access to the services they need to prosper and grow,” Miller said.

“We’ve conducted a coast-to-coast review of our services and are increasing our investment in key areas to help build stronger regions.

“This has included opening our first new regional service centre last month in Moree, designed to bring the best of our digital banking capabilities together with face-to-face support to assist with daily banking tasks and business banking needs.”

The Moree service centre will be joined by new openings in Leongatha (VIC) and Smithton (TAS) in 2026. The service centres offer face-to-face support to assist with daily banking needs like ID verification, personal and business lending and fraud and scam support, with cash available through Westpac’s Smart ATMs.

Trialling a new way to deliver face-to-face banking in the regions

Westpac has also announced it will pilot a new Community Banking Service for regional Australia. Delivered in partnership with local councils and community organisations, the initiative will provide dedicated private spaces for mobile bankers to operate from through regular visits.

When in town, customers can visit the banker for assistance with general banking inquiries and referrals to specialist lenders.

“Personal relationships matter in regional areas, and we understand the value of sitting down across the table with someone who knows your business, your family and your goals,” Miller said.

“But we’re not chasing a one-size-fits-all model and we need to get the balance right.

“Approximately 96 per cent of all transactions are now completed digitally, so we need to consider how we can deliver world-class banking services that meet all needs of our customers in the regions – whether that’s physically, digitally or personally.”

Consultation with local councils and community organisations is underway, with the first three trial locations confirmed in Dungog, Bulahdelah and Manilla in regional New South Wales. The trial service will launch in early 2026.

Tamworth Regional Council General Manager, Paul Bennett, said: “Tamworth Regional Council is delighted to support this terrific community initiative by Westpac to improve access to banking services across our region. We look forward to a successful pilot and this innovative approach becoming a permanent fixture for our community.”

In its submission to the Economic Reform Roundtable, Westpac put forward a range of policy proposals addressing key issues including supporting regional Australia. Recommendations included growing Australia’s regional population by one million people by 2032 through targeted investment in up to ten regional cities.

“Regional Australia presents an untapped opportunity to drive the nation’s prosperity,” Miller added.

“While our biggest cities struggle with population growth, regional Australia is struggling to achieve the growth needed to achieve equivalent economic outputs. Targeted investment is therefore needed to build immediate momentum.”

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Anthony Miller

The Westpac Board of Directors has announced the appointment of Anthony Miller as Group CEO and Managing Director, commencing 16 December 2024.

Mr Miller, currently Chief Executive of Westpac’s Business & Wealth division, will succeed Peter King, who will retire after a 30-year career at Westpac including five years as CEO.

Westpac Chair Steven Gregg said Mr Miller is the right person to take the company into a new era.

“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,” Mr Gregg said.

“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.”

Prior to joining Westpac Mr Miller was Deutsche Bank’s CEO of Australia/NZ and Co-Head of Investment Bank, APAC. He also spent 16 years at Goldman Sachs, including as Partner.

“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,” Mr Gregg said.

“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.”

Mr Miller said he’s honoured by the appointment.

“Westpac is an exceptional company that plays a profoundly important role in the lives of millions of Australians,” Mr Miller said.

“I’m excited by the opportunity and I’m grateful for Peter’s significant contribution as CEO. My aspiration is to build on that work and unleash Westpac’s true potential.

“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.”

Chair Steven Gregg thanked Peter King for his decades of service to Westpac.

“Peter has done an outstanding job as CEO of Westpac,” Mr Gregg said.

“He stepped in at a very difficult time in 2019, steering the company through several regulatory challenges and the COVID pandemic. 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.

“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,” Mr Gregg said.

Mr King welcomed the appointment of Mr Miller as his successor.

“Anthony will make a great CEO. In his time at Westpac he’s proven he has what it takes to deliver for customers, employees and shareholders. He’s an experienced banker, with customers at the heart,” Mr King said.

“As a result of the hard work completed over the past five years, Westpac is now a simpler, stronger bank, with an improved risk culture. The company is well-placed for its next phase under Anthony.”

Mr Miller holds a Bachelor of Laws from Queensland University of Technology and a Bachelor of Arts in Modern Asian Studies from Griffith University.

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“To sharpen our focus, we are appointing dedicated Group Executives responsible for Consumer banking and Business banking,” said Mr King.

“Over the past few years we’ve simplified the bank, including exiting nine businesses. As a result, we no longer need a Specialist Businesses Division.”

“We are also establishing a stand-alone function to accelerate our Technology simplification and will move Operations to Corporate Services, creating an expanded shared services team.”

Leadership Changes:

• Jason Yetton, Chief Executive, Consumer
• Anthony Miller, Chief Executive, Business & Wealth
• Nell Hutton, Chief Executive, Westpac Institutional Bank
• Scott Collary, Chief Information Officer
• Carolyn McCann, Group Executive Customer & Corporate Services

With the separation of Consumer & Business Banking, Chris de Bruin, current Chief Executive, Consumer & Business Banking has decided to leave the Group to pursue new opportunities.

“I want to thank Chris for his contribution to the bank. In particular, he’s led the digitisation of the Consumer bank, including the delivery of major initiatives such as the digital mortgage and payment solutions. He’s also driven our branch co-location strategy and strengthened the franchise. Chris will assist with the transition to the new structure,” Mr King said.

“The new structure will give the leadership team a greater focus on growing their businesses and delivering for customers.

“Jason has a 30-year history with the Group. His breadth of expertise stretches across all facets of banking, including time running Westpac’s retail and business banking division from 2011 to 2015. Jason has also led our portfolio simplification since 2020.

“Since joining three years ago, Anthony has grown our institutional business while improving return. He is a seasoned banker, having held executive and client facing roles at some of the world’s leading banks. Anthony is well-placed to drive growth in Westpac business banking.”

Mr King said he was pleased to have someone of Ms Hutton’s calibre join the executive team.

“Nell is an outstanding leader, who has delivered a strong performance during her time leading Financial Markets and will continue to build the Institutional Bank.”

Mr King said the Group has a significant technology and customer agenda underway.

“Scott Collary will continue to spearhead our technology transformation with a focus on streamlining our tech systems across the Westpac Group, while Carolyn McCann will lead an expanded division for customer and corporate shared services, including operations, helping to leverage the benefits of scale.”

The organisation changes will take effect on 1st August 2023 and will be reflected in the 2024 financial results.

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Anthony Miller

Westpac is pleased to confirm it has been reappointed as a long-standing partner for the provision of Banking and Financial Services to the Victorian Public Sector.

Westpac Institutional Bank CEO Anthony Miller said: “Westpac deeply values its long-term partnership with the Victorian Government and we are privileged to be able to continue to partner with them in the years ahead.

“Westpac has been with Victoria through the good times of economic growth and job creation, and the challenging times of bushfires and COVID.

“Victoria is a growing and thriving State, with much to offer domestically and internationally. The opportunity to partner with the State Government and all Victorians through this next phase is one we greatly value,” Mr Miller said.

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