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Highlights
- Westpac names Peter Herbert as acting head of Business & Wealth division
- Anthony Miller set to step into CEO role later this year
- Global search for a permanent replacement for Herbert is ongoing
Westpac Banking Corporation (ASX:WBC) has announced the appointment of Peter Herbert as the interim head of its Business & Wealth division. The internal executive will take over the role on November 5, following the departure of Anthony Miller, who is preparing to transition into the chief executive position at the bank. This leadership change comes as the bank sets in motion a global search for a permanent successor to Miller for the Business & Wealth segment.
Peter Herbert, who has been with Westpac since joining in an executive role, will temporarily manage the division. His leadership style is noted for promoting a culture of innovation, making him a strong candidate to maintain the stability of the Business & Wealth sector during this period of transition.
Outgoing CEO Peter King praised Herbert for his ability to lead with accessibility and engagement. King remarked, “Peter is an accomplished, engaging, and accessible leader who has built a culture of innovation since joining Westpac. He will provide stable and experienced leadership to the Business & Wealth division when Anthony steps into my role at the end of the year.”
Anthony Miller, who has been leading Westpac's Business & Wealth division, will officially assume the role of Westpac's CEO later this year. During the transition, Miller will spend time with Peter King to ensure a smooth handover of responsibilities. Westpac aims to finalize its search for a permanent head for the division in the near future, but for now, Herbert will continue to steer the ship until a long-term replacement is found.
This leadership transition is part of Westpac’s broader plan to ensure smooth continuity in its leadership as it navigates through its business and wealth management strategies.
