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Westpac board member retires after 9 years

The major bank has announced the retirement of Peter Marriott from the Westpac board at the end of the 2022 annual general meeting.

Peter Marriott has reached his nine-year tenure after joining the board in 2013. He was also the chairman of the board risk committee over the last three years, along with being a member of the board audit committee.

Following Mr Marriott’s retirement, Audette Exel AO will commence as chair of the board risk committee. Ms Exel carries more than 35 years of experience in global financial services, both in senior executive and non-executive director roles spanning banking, corporate advice, and regulatory bodies.

The former Suncorp Group board member has been a member of the board risk committee since her appointment to the board in July 2021. She commenced this role in September 2021.

Ms Exel is also the founder and chair of Adara Group, a global non-government organisation and social enterprise.

Westpac chairman John McFarlane said: “Peter has been an outstanding shareholder representative and contributor to the Board.

“In addition to his deep industry experience and financial acumen, Peter’s chairmanship of the Board Risk Committee has provided valuable leadership and insights through a period of significant change.

“I would like to thank Peter for his commitment to Westpac and wish him well for the future.”

On his departure, Mr Marriott said: “It has been a privilege to serve on the Westpac Board and I am confident Westpac is well placed to continue helping our customers succeed.”

Westpac extends partnership with Australia Post

The major bank recently announced that it had extended its partnership with Australia Post to continue offering over-the-counter banking services.

Customers will be able to access the Bank@Post service for another 10 years through to the end of 2032. Customers and business customers can deposit cash and cheques, withdraw money, and make balance inquiries through participating post offices under this agreement.

The renewed partnership comes off the back of Westpac Group announcing technology upgrades across its branch network, allowing customers from St.George, BankSA, or Bank of Melbourne to conduct cash transactions at any Westpac branch, and vice versa.

Speaking at the time, Westpac Group chief executive, consumer and business banking, Chris de Bruin, said the relationship with Australia Post is an important factor of the bank’s strategy to “offer customers a range of different ways”.

[RELATED: Westpac and Aus Post extend partnership]

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