Westpac Promotes Anthony Miller as New CEO, Succeeding Peter King who Retires

Westpac has appointed Anthony Miller, the current head of its business and wealth division, as its next Chief Executive and Managing Director. Miller will officially take over on December 16, following the retirement of Peter King, who is stepping down after a 30-year career with the bank, including five years at the helm.

Westpac’s Chairman, Steven Gregg, expressed confidence in Miller’s ability to guide Australia’s oldest corporation into a new chapter. He described Miller as an outstanding leader with strong integrity and extensive experience in both financial services and global banking. Over a 25-year career, Miller has built an impressive track record of success, Gregg noted.

Prior to joining Westpac in 2020, Miller served as Deutsche Bank’s CEO for Australia and New Zealand, as well as co-head of its investment bank in the region. He also spent 16 years at Goldman Sachs, where he rose to the position of partner.

Miller expressed excitement about his new role, acknowledging the important role Westpac plays in the lives of millions of Australians. He conveyed his gratitude for Peter King’s leadership and said he hopes to build on the foundation King has laid to unlock the bank’s full potential.

Gregg also praised King’s tenure as CEO, highlighting the steady hand he provided when he took over in 2019, following the banking royal commission. King helped the bank navigate through regulatory challenges and the turbulence of the Covid-19 pandemic, while simplifying risk management and streamlining the bank’s business portfolio. Under his leadership, key divisions returned to growth, and efforts to simplify the bank’s technology systems began, a process that Miller is expected to continue.

Miller, a graduate of Queensland University of Technology and Griffith University, will receive the same compensation package as his predecessor: a fixed salary of approximately $1.7 million, with the potential to earn up to around $5.6 million in short- and long-term bonuses.

Have you read?
Fastest tanks ever built by Russia.
Impact of Titles on Your Executive Career – Negotiating Job Titles and more!
3 Ways Technology Empowers the Hybrid Work Revolution.
5 Effective Strategies to Reduce Criticism and Captivate Your Essay Readers.
CerebrumIQ Reviews the Average IQ for Managers and Executives.