Westpac Appoints Peter Herbert as Acting Chief Executive

(Reuters) – Australia's Westpac announced on Thursday that Peter Herbert will be appointed as the acting chief executive for its business and wealth segment, effective Nov. 5.

As Australia's second-largest mortgage lender, Westpac stated that Herbert will replace Anthony Miller, who is set to take over as CEO of the bank on Dec. 16.

Peter Herbert has a distinguished career, having joined Westpac in 2020 after serving as the chief operating officer for the Asia Pacific division at HSBC in their retail banking and wealth management segment.

Currently, Herbert holds the position of chief operating officer of Westpac's business and wealth segment.

Current Westpac CEO Peter King noted, "The change will also allow Anthony to spend time with me in a handover period before he begins as CEO." King is set to retire in December.

While a global search is conducted for a permanent chief executive for the business and wealth segment, Peter Herbert will act in this role.