Updated

Westpac’s new boss Anthony Miller sets down his vision

James Eyers and Lucas Baird

Updated Sep 9, 2024 – 5.28pm, first published at 7.49am

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Incoming Westpac chief executive Anthony Miller has won the race against his internal rival – retail banking boss Jason Yetton – for the top job, selling the bank’s board on strategic continuity amid signs of increasing competition in home and business lending.

Mr Miller, a 54-year-old former investment banker, said his immediate priorities would be the full implementation of a years-long risk overhaul program and getting started on the bank’s multibillion-dollar technology upgrade. That would follow the transition period from outgoing CEO Peter King, who will retire after 30 years at Westpac on December 16.

James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay

Lucas Baird is a journalist based in The Australian Financial Review's Sydney office.