Westpac's boss has taken a more sanguine view of the expected historic RBA action on Tuesday than his ANZ rival did. He has worked with the Australian bank for the past 25 years. Westpac Chairman, John McFarlane, today announced that the Westpac Board and CEO, Peter King, had agreed to amend his employment contract removing the two-year term. Westpac Chairman Mr John McFarlane today announced the appointment of Mr Peter King as Chief Executive Officer. COVID-19 sealed Peter King’s fate to take the permanent helm at Westpac. Westpac today announced the appointment of Peter King as Chief Executive Officer. During this time, he has been the bank’s Chief Financial Officer (CFO), among other roles. 11/05 : Australia's mortgage market to be reshaped by near-zero rates: RE. King has been the acting CEO since December of last year. 11/05: Macquarie Group's 1st Half Profit Falls 32% on Pandemic Impacts -- Update: DJ. Westpac CFO Peter King to retire in 2020 12 September 2019 Westpac Group Chief Executive Officer Mr Brian Hartzer today announced that Peter King, Chief Financial Officer, has decided to retire in 2020 after a distinguished 25-year career with Westpac. Peter King said it was a great honour to be appointed CEO of Westpac where he has worked for the past 25 years. Statement from Westpac Group Acting CEO, Peter King “Westpac welcomes the Federal Government’s economic support measures. Mr King was appointed Acting Westpac Group Chief Executive Officer in December 2019. Westpac acting CEO Peter King during the Westpac 2019 Annual General Meeting at ICC Sydney on December 12, 2019 in Sydney, Australia. “Australia is going through an extraordinary and challenging time. Westpac Group CEO Peter King said the bank was determined to deliver on its risk remediation activities. Senior Banking Reporter 8:08AM April 2, 2020 9 Comments Westpac has appointed bank veteran Peter King as permanent chief executive for a period of two years, and scrapped bonuses for all executives as a result of its financial crimes scandal. "Australia is going … “We all have a role to play and we all have to put our shoulder to the wheel. Westpac has come under scrutiny in recent weeks following the... Erstklassige Nachrichtenbilder in hoher Auflösung bei Getty Images After accounting for all the considerations, the employment contract has been modified to a standard 12-month notice period for the CEO of Australia’s second-largest bank. Westpac Group Chief Executive Officer Mr Brian Hartzer today announced that Peter King, Chief Financial Officer, has decided to retire in 2020 after a distinguished 25-year career with Westpac. “We are focused on responding to the COVID-19 outbreak and supporting our customers and protecting our people. Peter was appointed Acting Westpac Group Chief Executive Officer in December 2019. Westpac’s recently appointed chief executive Peter King has warned Westpac’s turnaround will take several years, but he intends to see it through. WESTPAC BANKING: Appendix 3Y - Peter King: PU. 11/05: Australian regulator allows $25 bln reduction in banks' committed liquidity f.. RE. Credit: Louie Douvis King had been serving as interim CEO since November following the resignation of Brian Hartzer after a money laundering compliance scandal that was triggered by a lawsuit from the financial intelligence agency, AUSTRAC. Firstly, it removed any chance the board would recruit from outside the bank and secondly, it rendered his extensive experience and understanding of the financials and risk as crucial. 11/05: Australian regulator allows $25 bln reduction in banks' committed liquidity f.. RE. Peter King was Westpac acting CEO. Statement from Westpac Group Acting CEO, Peter King 22 March 2020 "Westpac welcomes the Federal Government’s economic support measures. Westpac's Peter King says RBA jobs focus trumps bank profit pressure. Mr King has been the CFO since 2014 and prior to his current role was Deputy CFO. Peter King Biography Peter King BEc, FCA. Westpac’s Peter King cautious on Pacific after AUSTRAC 11 Sep 2020 Westpac chief Peter King said the consequences of breaching anti-money laundering laws are so large that the bank can’t guarantee it will be able to continue to provide remittance services for workers in … After spending 25 years at Westpac, Peter King has just volunteered to tack another two years onto his … Peter King is Chief Executive Officer, Managing Director, Executive Director of Westpac Banking Ord. Read full article: Westpac's Peter King says RBA jobs focus...→ #Peter King Peter King Die Westpac Banking Corporation ist eine australische Bank mit Firmensitz in Sydney. We use cookies to secure and tailor your web use. As the old joke goes, you get less for murder. Westpac Chairman, John McFarlane, today announced that the Westpac Board and CEO, Peter King, had agreed to amend his employment contract removing the two-year term. The comments came as the bank switched Mr King’s contract to an evergreen time frame, removing the existing two-year term. “In the short time Peter has been CEO, he has made a significant contribution to Westpac in a year of unprecedented change,” said chairman John McFarlane. Mr McFarlane said the Board and Mr King have had recent discussions and Mr King confirmed he is committed to the multi-year plan to turn the company around. Long-serving executive Peter King to take the reigns as CEO of Westpac Bank Westpac reported a 66% decline in profits to $2.29 billion thanks to both the slowdown in the economy and massive fines it’s had to pay to Austrac and for royal commission remediation. Westpac CEO Peter King speaks to Alysse. Peter King said it was a great honour to be appointed CEO of Westpac where he has worked for the past 25 years. Westpac Banking Corp. said acting Chief Executive Officer Peter King will take on the role permanently for the next two years as Australia’s oldest bank seeks stability amid the coronavirus crisis. Put simply King is the best-placed person to manage the impending credit event. Skip To Content Prior to this he was Deputy Chief Financial Officer for three years and held senior positions across the Group including in Group Finance, Business and Consumer Banking, Business and Technology Services, Treasury and Financial Markets. Mr King has been the CFO since 2014 and prior to his current role was Deputy CFO. “We are focused on responding to the COVID-19 outbreak and supporting our customers and protecting our people. Westpac has formally appointed Peter King as its CEO. 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