Westpac Banking Corporation

ASX:WBC Stock Report

Market Cap: AU$113.4b

Westpac Banking Management

Management criteria checks 3/4

Westpac Banking's CEO is Peter King, appointed in Dec 2019, has a tenure of 4.92 years. total yearly compensation is A$6.93M, comprised of 34.9% salary and 65.1% bonuses, including company stock and options. directly owns 0.01% of the company’s shares, worth A$11.93M. The average tenure of the management team and the board of directors is 3 years and 3.2 years respectively.

Key information

Peter King

Chief executive officer

AU$6.9m

Total compensation

CEO salary percentage34.9%
CEO tenure4.9yrs
CEO ownership0.01%
Management average tenure3yrs
Board average tenure3.2yrs

Recent management updates

Recent updates

Westpac Banking Corporation Just Recorded A 6.3% EPS Beat: Here's What Analysts Are Forecasting Next

Nov 06
Westpac Banking Corporation Just Recorded A 6.3% EPS Beat: Here's What Analysts Are Forecasting Next

With EPS Growth And More, Westpac Banking (ASX:WBC) Makes An Interesting Case

Jan 27
With EPS Growth And More, Westpac Banking (ASX:WBC) Makes An Interesting Case

With EPS Growth And More, Westpac Banking (ASX:WBC) Makes An Interesting Case

Jul 02
With EPS Growth And More, Westpac Banking (ASX:WBC) Makes An Interesting Case

Westpac Banking (ASX:WBC) Has Announced That It Will Be Increasing Its Dividend To A$0.70

May 10
Westpac Banking (ASX:WBC) Has Announced That It Will Be Increasing Its Dividend To A$0.70

Most Shareholders Will Probably Agree With Westpac Banking Corporation's (ASX:WBC) CEO Compensation

Dec 07
Most Shareholders Will Probably Agree With Westpac Banking Corporation's (ASX:WBC) CEO Compensation

Westpac Banking's (ASX:WBC) Dividend Will Be Increased To A$0.64

Nov 16
Westpac Banking's (ASX:WBC) Dividend Will Be Increased To A$0.64

CEO Compensation Analysis

How has Peter King's remuneration changed compared to Westpac Banking's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2024AU$7mAU$2m

AU$7b

Jun 30 2024n/an/a

AU$7b

Mar 31 2024n/an/a

AU$7b

Dec 31 2023n/an/a

AU$7b

Sep 30 2023AU$6mAU$2m

AU$7b

Jun 30 2023n/an/a

AU$7b

Mar 31 2023n/an/a

AU$6b

Dec 31 2022n/an/a

AU$6b

Sep 30 2022AU$5mAU$2m

AU$6b

Jun 30 2022n/an/a

AU$5b

Mar 31 2022n/an/a

AU$5b

Dec 31 2021n/an/a

AU$5b

Sep 30 2021AU$4mAU$2m

AU$5b

Jun 30 2021n/an/a

AU$5b

Mar 31 2021n/an/a

AU$5b

Dec 31 2020n/an/a

AU$3b

Sep 30 2020AU$3mAU$2m

AU$2b

Jun 30 2020n/an/a

AU$4b

Mar 31 2020n/an/a

AU$5b

Dec 31 2019n/an/a

AU$6b

Sep 30 2019AU$3mAU$1m

AU$7b

Jun 30 2019n/an/a

AU$7b

Mar 31 2019n/an/a

AU$7b

Dec 31 2018n/an/a

AU$8b

Sep 30 2018AU$3mAU$1m

AU$8b

Compensation vs Market: Peter's total compensation ($USD4.52M) is about average for companies of similar size in the Australian market ($USD4.46M).

Compensation vs Earnings: Peter's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Peter King (54 yo)

4.9yrs

Tenure

AU$6,933,449

Compensation

Mr. Peter Francis King, BEc, FCA, has been the Chief Executive Officer & Managing Director of Westpac Banking Corporation since April 02, 2020 and served as its Acting Managing Director & Chief Executive O...

Leadership Team

NamePositionTenureCompensationOwnership
Peter King
CEO, MD & Director4.9yrsAU$6.93m0.010%
A$ 11.8m
Michael Rowland
Chief Financial Officer4.2yrsAU$3.04m0.0016%
A$ 1.8m
Scott Collary
Group Chief Information Officer1.3yrsAU$3.42m0.0041%
A$ 4.6m
Christine Parker
Group Executive of Human Resources13.1yrsAU$2.59m0.0021%
A$ 2.3m
Jason Yetton
Chief Executive of Consumer4.5yrsAU$3.25m0.0023%
A$ 2.6m
Carolyn McCann
Group Executive of Customer & Corporate Services2.7yrsAU$2.61m0.0032%
A$ 3.7m
Anthony Miller
Chief Executive of Business & Wealth1.3yrsAU$3.62m0.0054%
A$ 6.1m
Ryan Zanin
Chief Risk Officer2.6yrsAU$4.15m0.0015%
A$ 1.8m
Catherine McGrath
Chief Executive Officer of Westpac New Zealand Limited3yrsAU$2.21mno data
Nell Hutton
Chief Executive of Westpac Institutional Bank1.1yrsAU$3.27m0.0048%
A$ 5.5m
Justin McCarthy
General Manager of Investor Relationsno datano datano data
Shannon Finch
Group General Counsel3yrsno datano data

3.0yrs

Average Tenure

54yo

Average Age

Experienced Management: WBC's management team is considered experienced (3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Peter King
CEO, MD & Director4.9yrsAU$6.93m0.010%
A$ 11.8m
Michael Ullmer
Independent Non-Executive Director1.6yrsAU$309.06k0.00037%
A$ 419.7k
Steven Gregg
Independent Non-Executive Chairmanless than a yearAU$716.64k0.0022%
A$ 2.5m
Audette Exel
Independent Non-Executive Director3.2yrsAU$344.44k0.00035%
A$ 397.0k
Nerida Caesar
Independent Non-Executive Director7.2yrsAU$285.88k0.00040%
A$ 453.8k
Peter Nash
Independent Non-Executive Director6.7yrsAU$367.79k0.00044%
A$ 499.1k
Margaret Seale
Independent Non-Executive Director5.7yrsAU$290.44k0.00030%
A$ 340.3k
Andy Maguire
Independent Non-Executive Directorless than a yearAU$59.80kno data
Timothy Burroughs
Independent Non-Executive Director1.7yrsAU$297.46k0.0020%
A$ 2.2m

3.2yrs

Average Tenure

62yo

Average Age

Experienced Board: WBC's board of directors are considered experienced (3.2 years average tenure).