Major bank sees new appointments and the departure of a company veteran
Westpac has announced a restructure plan to support its next strategic phase in a move the bank said would position it for future growth.
“To sharpen our focus, we are appointing dedicated group executives responsible for consumer banking and business banking,” Westpac CEO Peter King said in a news release. “Over the past few years we’ve simplified the bank, including exiting nine businesses. As a result, we no longer need a specialist businesses division. We are also establishing a stand-alone function to accelerate our Technology simplification and will move operations to Corporate Services, creating an expanded shared services team.”
Leadership changes include the appointments of Jason Yetton (pictured above left) as chief executive for consumer, Anthony Miller as chief executive for business and wealth, and Nell Hutton (pictured above centre) as chief executive for Westpac Institutional Bank. Scott Collary will serve as the chief information officer, while Carolyn McCann will be the group executive for customer and corporate services.
Company veteran to depart
The restructuring also means the departure of Chris de Bruin (pictured above right), the current chief executive for consumer and business banking, who will be leaving the Group to pursue new opportunities.
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“I want to thank Chris for his contribution to the bank,” King said. “In particular, he’s led the digitisation of the consumer bank, including the delivery of major initiatives such as the digital mortgage and payment solutions. He’s also driven our branch co-location strategy and strengthened the franchise. Chris will assist with the transition to the new structure.”
The changes are scheduled to take effect on 1 August and will be reflected in the 2024 financial results. Hutton, the newly appointed chief executive for Westpac Institutional Bank, brings extensive experience from Goldman Sachs and will join the executive team, Westpac said.
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