Westpac announces exec shake-up

Westpac, Executive Changes,

Westpac has announced a major reshuffle of its executive leadership team triggered by the forthcoming departure of consumer and business banking chief Chris de Bruin, including a streamlining of its tech function.

Scott Collary, who has served as Westpac’s group executive, customer services and technology since early 2022, has been appointed chief information officer – reinstating a title last held by Craig Bright. Bright departed Westpac back in October 2020 for British banking giant Barclays.

Collary surrenders the customer services function, which has been moved to an “expanded shared services team” led by corporate services head Carolyn McCann.

Collary was originally appointed Westpac’s chief operating officer in late 2020.

Westpac chief executive Peter King said the new stand-alone technology role would serve to “accelerate” the bank’s tech simplification program, “spearhead[ing] our technology transformation with a focus on streamlining our tech systems across the Westpac Group.”

With the separation of its consumer and business banking arms, Westpac bids farewell to its divisional head Chris De Bruin.

King thanked the outgoing De Bruin, who served just over two years in the role, acknowledging his key role in digitising Westpac’s consumer banking arm, “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,” King said.

Jason Yetton, most recently Westpac’s chief executive of specialist businesses and group strategy, a role he has held for the last three years, steps into the newly created chief executive, consumer position.

Joining the bank from CBA back in 2020, Yetton has played a key role in driving Westpac’s ‘Simpler, stronger bank’ simplification strategy, which saw a redoubled refocus on operations in Australia and New Zealand and an offloading of nine businesses, including the sale of its life arm to TAL and the ending of its operations in Beijing, Shanghai, Hong Kong, Mumbai, and Jakarta.

Anthony Miller, who was most recently chief executive of Westpac’s Institutional Bank, will move to the new role of chief executive, business and wealth.

Nell Hutton will step in to head Westpac’s Institutional Bank (IB), promoted from her role as managing director, financial markets within the IB.

Carolyn McCann, currently head of corporate services, will add a new customer function to her remit, leading an expanded shared services division that includes operations.

Commenting on the leadership shake-up, King said the changes would “sharpen” the group’s focus and support its “next strategic phase”.

The changes take effect from 1 August this year.