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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Steven Gregg

Westpac Group has announced the appointment of Steven Gregg as a Non-executive Director and Chairman-Elect.

Mr Gregg is a seasoned leader with more than 35 years’ experience spanning chair, director and executive roles across a range of sectors. He will succeed outgoing Chairman John McFarlane, with his appointment as Non-executive Director and Chairman-Elect effective 7 November 2023, subject to regulatory approvals.

“Steven is the right leader to take Westpac into its next chapter,” said Mr McFarlane.

“With a long career in corporate and investment banking across Asia, Europe and the US, combined with his experience chairing ASX100 companies, Steven is a world-class executive and director who will bring a fresh perspective to the Board.

“He has deep experience chairing consumer-focused companies, a strong track record of disciplined decision making and contributions to board oversight of organisations undergoing technology transformation,” Mr McFarlane said.

Mr McFarlane will complete his term as Westpac Chair at this year’s AGM on December 14.

“When I took on this role in 2020, I made a commitment to shareholders to build a customer-focused digital bank and create a leaner, more agile and better performing company. We have made great progress in achieving these goals and turning Westpac around,” Mr McFarlane said.

“I’m confident that Steven will build on that success, working closely with Peter, the executive team and directors.”

Mr Gregg says he’s looking forward to joining the Westpac Board.

“It’s an honour to be appointed Chair of Westpac,” Mr Gregg said.

“Westpac is a wonderful company, the oldest company in the country, the first bank, and an organisation that has so much potential. I look forward to making a big contribution.

“From my observation, Westpac is in a period of transition. After the hard work of simplification over the past three years, now is the time to look forward and have a strong ambition.

“My priority will be working closely with fellow directors and the management team to deliver the very best service for our customers and better returns for our shareholders.

“There are so many things to look forward to at Westpac: working with a great team, taking the organisation to the next level and helping it move forward.

“It will be a privilege to succeed John McFarlane and build on the important work of the past few years,” Mr Gregg said.

In light of his appointment, Mr Gregg has rationalised his current director portfolio by retiring as a Non-executive Director of Challenger Financial Group Limited. Today he’s also announced he will retire as Chair and Non-executive Director of The Lottery Corporation in the first quarter of the 2024 calendar year.

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