Westpac Appoints Peter Herbert as Acting CEO of Business Segment

Westpac, one of Australia's leading financial institutions, has announced the appointment of Peter Herbert as the acting Chief Executive of its Business & Wealth division, effective November 5, 2024. This strategic move comes as Anthony Miller, the current CEO, prepares to assume the role of Westpac CEO on December 16, 2024.

Herbert, currently serving as the Chief Operating Officer of the Business & Wealth division, brings a wealth of experience to his new role. With an extensive career at HSBC, including serving as COO, Asia Pacific, Retail Banking & Wealth Management, Herbert has honed his leadership skills and expertise in the financial sector. His appointment reflects Westpac's commitment to fostering internal talent and promoting a culture of innovation.


Westpac CEO Peter King praised Herbert's appointment, highlighting his accomplishments and engaging leadership style. "Peter is an accomplished, engaging and accessible leader who has built a culture of innovation since joining Westpac," King said. "He will provide stable and experienced leadership to the Business & Wealth division when Anthony steps into my role at the end of the year."

Herbert's appointment is expected to have a positive impact on Westpac's innovation strategy and digital transformation in the Business & Wealth segment. His experience at HSBC and Westpac has equipped him with the necessary skills to navigate the complexities of his new role and drive progress in the division. Moreover, his interim role will allow for a smooth transition for Anthony Miller, providing him with an opportunity to work alongside King during the handover period.


As the global search for a permanent Chief Executive, Business & Wealth, continues, Herbert's interim role will play a crucial part in shaping the future direction of the division. His leadership style and culture-building abilities are likely to influence the division's performance and employee engagement during his tenure. By maintaining a balance between stable leadership and innovation, Herbert can ensure a seamless transition to the permanent CEO while driving progress in the Business & Wealth segment.

In conclusion, Westpac's appointment of Peter Herbert as acting CEO of the Business & Wealth division demonstrates the bank's commitment to fostering internal talent and promoting a culture of innovation. With his extensive experience and leadership skills, Herbert is well-positioned to drive progress in the division and ensure a smooth transition for Anthony Miller as he assumes the role of Westpac CEO.