Westpac, the Australian bank which is involved in private banking as part of its offerings, announces new leadership.

The Westpac board of directors has appointed Anthony Miller as group CEO and managing director, starting in December.

Miller, currently chief executive of Westpac’s business and wealth division, will succeed Peter King, who will retire after a 30-year career at Westpac, including five years as CEO.

Prior to joining Westpac, Miller was Deutsche Bank’s CEO of Australia/NZ and co-head of Investment Bank, APAC. He also spent 16 years at Goldman Sachs, including as partner, the firm said in a statement.

“He has deep expertise in financial services and global banking and has built a considerable track record of delivery over 25 years,” Westpac chair Steven Gregg said. “He has a vision to return Westpac to a position of leadership and build on the foundational work of the past five years. As an internal appointment Anthony knows what needs to be done and will move at pace, ensuring a seamless transition.”

Chair Steven Gregg thanked Peter King for his work, saying he stepped in at a very difficult time in 2019, steering the company through several regulatory challenges and the Covid pandemic. “Since then, Peter has provided much-needed stability to the bank while transforming risk management. He simplified the company’s portfolio of businesses and returned it to growth in key divisions. He’s now begun the critical task of technology simplification, which will continue under Anthony,” Gregg added.