Westpac has made a number of changes to its executive team, announcing a new deputy chief executive officer.
Current chief financial officer Phil Coffey will take up the role, overseeing Westpac’s contribution to the federal government’s Financial System Inquiry and supporting relationships with key stakeholders.
“[Mr Coffey] is a deeply experienced financial services executive who has served on our executive team for 12 years, including eight years as CFO,” Westpac Group chief executive officer Gail Kelly said.
“He is highly respected internally and externally, and has played a critical role in growing and strengthening the group.”
“His expertise in risk, finance, capital markets and regulatory issues will be invaluable in the further development of the group’s strategy and as we address both the challenges and opportunities facing the industry.”
Mr Coffey will also retain many of his current responsibilities for strategy and mergers and acquisitions for functions and will also continue as a director of Westpac New Zealand Limited.
Current deputy CFO Peter King has been promoted to CFO as a result of the changes.
Mr King has been with Westpac for almost 20 years and previously held responsibility for external financial reporting, group financial performance management and capital planning.
The new appointments are effective from the start of April.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 12 Dec 2018FASEA confirms accreditation processBy James Mitchell
- 12 Dec 2018Aussie advice business partners with Bank of IrelandBy James Mitchell
- 12 Dec 2018Industry association aims to reverse 'crippling' LIFBy James Mitchell
- 11 Dec 2018ASIC cancels AFSL of Queensland groupBy Eliot Hastie
- 12 Dec 2018Advisers placed in TPB firing lineBy Katarina Taurian
- 11 Dec 2018Liberal Party has done ‘almost nothing’ for advisersBy James Mitchell
- view all