Ms Holcomb, who has more than 35 years’ experience in financial services, will transition out of her role on 25 June 2018.
David Stephen, who is currently RBS’ group chief risk officer, is expected to join Westpac in the coming months.
In the interim period between Ms Holcomb’s retirement and Mr Stephen’s commencement, Westpac Group’s chief financial officer, Peter King, will act as chief risk officer.
Westpac’s deputy chief financial officer, David Lees, will act as chief financial officer during this time.
Speaking of Ms Holcomb’s retirement, Westpac’s chief executive officer, Brian Hartzer, said: “I wish to thank Alex for her significant contribution over two decades. During this time, Alex has driven innovation across numerous strategic, customer and operational roles, and implemented a strong risk framework across the group as chief risk officer.
“We wish her all the very best for the future.”
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