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Westpac has announced that Ms Ellis as Westpac Group’s chief economist as of 9 October 2023. Ms Ellis is currently the assistant governor (economic) at the Reserve Bank of Australia (RBA) and has held that role since 2016.
Prior to this, Ms Ellis was head of the RBA’s financial stability department for eight years and has also served as a deputy head of the economic analysis department and spent almost two on secondment at the Bank for International Settlements.
Westpac chief executive Peter King commented on her appointment: “We are delighted to welcome Luci to Australia’s oldest bank.
In addition, the major bank announced that its current chief economist Bill Evans will step into the role of senior economic advisor.
Mr Evans has served as Westpac’s group chief economist for 30 years and will enter his new role in January 2024, Mr King has confirmed.
Mr King stated Mr Evans has “defined the role of a major bank chief economist in Australia”.
“Bill has built a legacy of trust and a record of service that is unmatched. His generosity and ability to explain the economy in clear and simple terms has meant that Australians from all walks of life have benefited from his considerable knowledge and insight,” Mr King said.
“Bill joined Westpac in the midst of the 1991 recession and since then has been a trusted voice in Australia through every economic cycle.
“I’m pleased the Bank and our customers will continue to have the benefit of Bill’s extensive experience and knowledge in his new advisory capacity.”
Mr King added: “Luci is a highly qualified and respected economist who will build on Bill’s legacy of providing quality economic forecasts for Westpac customers.”
Non-exec director appointed at NAB
In another recent appointment by a major bank, NAB announced Alison Kitchen’s appointment as independent non-executive director after she departs KPMG following a 30-year tenure. She will commence with her new role on 27 September 2023.
Having served as the national chair of KPMG Australia and a member of KPMG’s global and regional boards for almost six years and an employee for over 30 years, Ms Kitchen brings a wealth of experience to her new role, NAB said.
During her tenure, Ms Kitchen has provided advice in areas including external audit, transaction support, risk management, internal controls, business processes, and regulatory change to a wide range of industries, including financial services.
[RELATED: NAB appoints new non-executive director]