CFO to depart Westpac

Westpac Group has announced that chief financial officer Peter King will retire in 2020 after 25 years with the bank.

King has served as CFO since 2014 and previously as deputy CFO. He also served as acting CRO following the August 2018 departure of Alexandra Holcomb and the October 2018 appointment of new CRO David Stephen.

Westpac Group CEO Brian Hartzer said of his service: "Peter has played a critical role during a period of major change in Australian banking and as a result of his expertise and dedication, Westpac is a better and stronger bank."

He added: "Peter is known throughout Westpac for his integrity, his work ethic, and his ability to provide high-quality counsel and guidance. His ability to meaningfully engage with people has earned him many friends and admirers across all levels of the bank.

King has given 12 months' notice and will continue in his role until a successor is appointed.

The departure date below is indicative only and will be updated as more information is made public.