Senior executives exit as bank prioritises regional operations
Westpac’s business banking division is undergoing significant changes as part of a new strategy to prioritise regional operations.
Paul Fowler, recently appointed as head of business banking after joining from Commonwealth Bank, is leading the restructure. The changes will see the division split into metropolitan and regional segments, both reporting directly to Fowler.
Shane Howell, managing director of commercial, will leave Westpac after two decades with the bank. Howell previously held senior positions in product, marketing, transformation, and program delivery across Australia and New Zealand. During his tenure, commercial lending at Westpac increased by more than 20%.
The restructure aligns with chief executive Anthony Miller’s strategy to bolster Westpac’s presence in regional Australia. The bank will open three new regional service centres in New South Wales, Victoria, and Tasmania, reflecting Miller’s view that previous branch closures in regional areas went too far.
Peta Ward, based in Toowoomba, has been promoted to oversee regional, commercial, and agribusiness. Ward has served as national general manager for regions and agribusiness since 2022.
Megan Rutter, who was acting chief people officer before Kate Dee joined from Bupa, is also departing after 17 years at Westpac.
Other senior departures include Peter Baker, general manager of human resources for business banking, wealth, and technology. Baker, who joined Westpac 11 months ago after senior roles overseas, was considered for the chief people officer position that went to Dee.
Since taking over as chief executive in December last year, Miller has made several changes to the executive team. Westpac has recruited multiple senior leaders from Commonwealth Bank, including Fowler and Andrew McMullan, now chief data, digital and AI officer. The bank has also attracted talent from other major lenders, such as Nathan Goonan from NAB as chief financial officer, and Luis Uguina, formerly Macquarie Bank’s chief digital officer, who joined as a key hire for retail banking executive Carolyn McCann.
McCann, previously group executive of customer and corporate services, was promoted internally. Stephen Davison has also moved from the institutional bank to become chief operating officer for the business and wealth division.
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