Westpac has named Anthony Miller as its new chief executive, set to take over from Peter King later this year. Miller, who is currently leading the company's business and wealth division, will assume the role on December 16.
Miller, who joined Westpac in 2020, will receive a fixed annual salary of $2.5 million, along with short-term and long-term bonuses.
He noted in a statement, “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.”
Westpac chairman Steven Gregg praised Miller as the ideal successor. "Since joining Westpac in 2020, he has guided the institutional bank towards reclaiming its leadership position. Over the past year, he has successfully led the business and wealth division, focusing on growth and customer satisfaction."
Peter King will retire from his position as CEO later this year, with Miller set to take over the role on December 16.