Banking News

Westpac Announces New IB Chief Executive

Westpac Announces New IB Chief Executive

(23 July 2020 – Australia) Anthony Miller, current Deutsche Bank Australia CEO since 2017, has been announced as the new institutional banking (IB) boss of Westpac.

The appointment by Westpac CEO Peter King follows a raft of major Executive Committee changes for the bank following the departure of CEO Brian Hartzer and Chairman Lindsay Maxsted in the wake of the harmful Australian Transaction Reports and Analysis Centre (AUSTRAC) anti-money laundering (AML) breach and subsequent Federal Court action in Q4 2019.

Mr Miller replaces outgoing Westpac Institutional Bank (WIB) CEO Lyn Cobley following her recent retirement. Prior to his role as Deutsche Bank Australia CEO, Mr Miller worked in Goldman Sachs Hong Kong’s derivatives, structured finance, capital and debt capital markets (DCM) team.

The decision to employ Mr Miller follows the announcement of Michael Rowland as CFO. Mr Rowland, previously a KPMG partner and ANZ banker, replaces acting CFO Gary Thursby, the former Westpac COO.

“Mr Miller's international investment banking and risk management experience is a tremendous plus for the bank, as we set about rebuilding following a period of turmoil. Mr Miller has been in client facing roles for the past 20 years and has deep banking and financial markets experience, which will be invaluable as we work to further strengthen our relationships with our corporate and institutional clients” Westpac CEO Peter King said stated.

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