Westpac has announced the appointment of Peter Herbert as acting CEO of its business and wealth division, effective from November 5. Herbert, currently serving as chief operating officer for the same division, will take over from Anthony Miller, who is set to assume the role of Westpac CEO on December 16.
Herbert joined Westpac in 2020 following an 18-year career at HSBC, where he held various senior positions, including chief operating officer of retail banking and wealth management in the Asia Pacific region. His appointment is temporary, and a global search is being conducted to find a permanent CEO for the business and wealth division.
Westpac’s chief executive, Peter King, highlighted Herbert’s leadership qualities, noting that he had fostered a culture of innovation since joining the bank. King expressed confidence that Herbert’s leadership would provide stability and continuity during the transition period as Miller prepares to step into King’s role later this year.
King also noted that the change would allow Miller to spend time with him during the handover before formally starting as CEO.
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