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Australasia, News

Australia’s Westpac veteran Peter King to retire as CFO

(Adds CEO comment, details; paragraphs 3-5)

Sept 12 (Reuters) – Westpac Banking Corp said on Thursday its chief financial officer, Peter King, will retire next year after spending 25 years with Australia’s second largest bank.

King, who has been in the role since 2014, has given 12 months’ notice, the company said in a statement.

He has also helped shepherd Westpac through the fallout of the Royal Commission inquiry into the financial sector that exposed widespread misconduct.

“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,” Chief Executive Brian Hartzer said.

The bank said it will begin an international search for a successor to King, who also served as deputy chief financial officer. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Clarence Fernandez)

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