New CTO will lead simplification program as bank shifts focus from planning to implementation
Major bank Westpac has appointed Peter Herbert (pictured above) as its new chief transformation officer, effective March 3.
Herbert will join the Westpac Group executive team, reporting directly to chief executive Anthony Miller. In this role, he will oversee transformation initiatives across the organisation, focusing on the implementation of Westpac’s business-led simplification program, UNITE, as it shifts from planning to execution.
“Peter is an outstanding executive with global experience running major transformation projects,” Miller said. “He is best placed to drive change across the company as we enter this next important phase for Westpac.”
Herbert has served as acting chief executive of business and wealth since November 2024. Before this, he held roles as chief operating officer of business and wealth, and chief transformation officer of consumer and business banking. He previously spent nearly two decades at HSBC, including time as chief operating officer for retail banking and wealth management in Asia Pacific.
Herbert will continue to act as chief executive of business and wealth until Paul Fowler assumes the role in May 2025.
The announcement of Herbert’s new appointment also follows Westpac’s recent addition of Debra Hazelton and David Cohen as independent non-executive directors to its board. Hazelton’s appointment is expected to take effect around March 3, with Cohen’s following on or around April 1.
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