Westpac names Anthony Miller as new chief executive

Banking giant Westpac announced today Peter King is retiring as chief executive later this year and will be replaced by Anthony Miller, the current head of the company's business and wealth division.

Miller, who joined Westpac in 2020, will receive a fixed salary of $2.5 million, plus short and long-term bonuses.

He said his focus would be on building confidence with the bank's customers.

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"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," Miller said in a statement.

Westpac chairman Steven Gregg said Miller was the ideal choice for chief executive.

"Since joining Westpac in 2020, he's put the institutional bank on a path to reclaiming its leadership position. He's spent the past year leading business and wealth, restoring growth and focusing on customers."

Miller will succeed King on December 16.

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