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Westpac CEO appointed ABA chair

The banking association has named the major bank’s chief executive as its next chair.

Peter King will serve as the chair of the Australian Banking Association (ABA) council for the next two years, with the Westpac CEO confirmed by the association as the incoming appointment. 

Mr King will replace Matt Comyn, the CEO of Commonwealth Bank of Australia (CBA), who was appointed to the position in 2019.  

Prior to Mr Comyn’s appointment, ANZ CEO Shayne Elliott assumed the role. 

The ABA has confirmed that Bendigo and Adelaide Bank CEO Marnie Baker will remain in the role of deputy chair.

Ms Baker was named deputy chair in 2019. 

Speaking of his new position, Mr King said that putting customers first will continue to be the priority for the industry during his term.  

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“Australian banks have played a vital role in helping their customers through the worst of the pandemic. Whatever lies ahead, this will continue,” he said. 

“Rebuilding the economy and overcoming new challenges such as the financial risk of climate change will require a team effort across industry and government. Banks are ready to play their part.”

ABA CEO Anna Bligh said: “The chair of the ABA is an important role that provides strategic direction and leadership for the banking industry and I look forward to working with Peter King during his tenure.

“COVID-19 has tested the Australian economy and our banking industry has proven resilient. As our economy looks to again rebound from this year’s lockdowns, we will ensure we continue to focus on putting customers first and working with governments and stakeholders to benefit the Australian economy.

“I would also like to take the opportunity to thank Matt Comyn for his excellent leadership. Matt’s thought-leading expertise during challenging circumstances has been instrumental in supporting Australians through the pandemic.”

[Related: Government confirms RBA board appointment]

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