Westpac CEO Peter King has been appointed as the new chair of the Australian Banking Association (ABA), the peak body for the banking industry in Australia.
He was confirmed in the role yesterday at the group’s AGM, and takes over from CBA chair Matt Comyn, who had been in post for the last two years.
King’s deputy will be Marnie Baker, CEO of Bendigo and Adelaide Bank, who maintains the position she held under Comyn.
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The chair has rotated between Big Four CEOs since 2013, with King being the first Westpac exec to hold it since Brian Hartzer, who was chair from January 2015 to December 2015.
"Australian banks have played a vital role in helping their customers through the worst of the pandemic,” said King. “Whatever lies ahead, this will continue.”
“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.”
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.”