Westpac Banking Management

Management criteria checks 4/4

Westpac Banking's CEO is Peter King, appointed in Dec 2019, has a tenure of 4.33 years. total yearly compensation is A$5.74M, comprised of 42.4% salary and 57.6% bonuses, including company stock and options. directly owns 0.008% of the company’s shares, worth A$6.87M. The average tenure of the management team and the board of directors is 2.4 years and 3.1 years respectively.

Key information

Peter King

Chief executive officer

AU$5.7m

Total compensation

CEO salary percentage	42.4%
CEO tenure	4.3yrs
CEO ownership	0.008%
Management average tenure	2.4yrs
Board average tenure	3.1yrs

Recent management updates

Recent updates

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

Jul 02

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

May 10

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

Dec 07

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

Nov 16

CEO Compensation Analysis

How has Peter King's remuneration changed compared to Westpac Banking's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	AU$3b
Dec 31 2023	n/a	n/a	AU$5b
Sep 30 2023	AU$6m	AU$2m	AU$7b
Jun 30 2023	n/a	n/a	AU$7b
Mar 31 2023	n/a	n/a	AU$6b
Dec 31 2022	n/a	n/a	AU$6b
Sep 30 2022	AU$5m	AU$2m	AU$6b
Jun 30 2022	n/a	n/a	AU$5b
Mar 31 2022	n/a	n/a	AU$5b
Dec 31 2021	n/a	n/a	AU$5b
Sep 30 2021	AU$4m	AU$2m	AU$5b
Jun 30 2021	n/a	n/a	AU$5b
Mar 31 2021	n/a	n/a	AU$5b
Dec 31 2020	n/a	n/a	AU$3b
Sep 30 2020	AU$3m	AU$2m	AU$2b
Jun 30 2020	n/a	n/a	AU$4b
Mar 31 2020	n/a	n/a	AU$5b
Dec 31 2019	n/a	n/a	AU$6b
Sep 30 2019	AU$3m	AU$1m	AU$7b
Jun 30 2019	n/a	n/a	AU$7b
Mar 31 2019	n/a	n/a	AU$7b
Dec 31 2018	n/a	n/a	AU$8b
Sep 30 2018	AU$3m	AU$1m	AU$8b
Jun 30 2018	n/a	n/a	AU$8b
Mar 31 2018	n/a	n/a	AU$8b
Dec 31 2017	n/a	n/a	AU$8b
Sep 30 2017	AU$3m	AU$1m	AU$8b

Compensation vs Market: Peter's total compensation ($USD3.74M) is about average for companies of similar size in the Australian market ($USD4.04M).

Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.

CEO

Peter King (53 yo)

4.3yrs

Tenure

AU$5,743,421

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

Name	Position	Tenure	Compensation	Ownership
Peter King	CEO, MD & Director	4.3yrs	AU$5.74m	0.0076% A$ 6.9m
Michael Rowland	Chief Financial Officer	3.6yrs	AU$2.61m	0.00076% A$ 690.3k
Scott Collary	Chief Information Officer	less than a year	AU$3.20m	0.0023% A$ 2.1m
Christine Parker	Group Executive of Human Resources	12.5yrs	AU$2.32m	0.0015% A$ 1.4m
Jason Yetton	Chief Executive of Consumer	3.9yrs	AU$3.11m	0.0015% A$ 1.4m
Carolyn McCann	Group Executive of Customer & Corporate Services	2.1yrs	AU$2.23m	0.0027% A$ 2.5m
Anthony Miller	Chief Executive of Business & Wealth	less than a year	AU$3.73m	0.0046% A$ 4.2m
Ryan Zanin	Chief Risk Officer	2yrs	AU$3.70m	0.00028% A$ 254.3k
Catherine McGrath	Chief Executive Officer of Westpac New Zealand Limited	2.4yrs	AU$1.88m	no data
Justin McCarthy	General Manager of Investor Relations	no data	no data	no data
Shannon Finch	Group General Counsel	2.4yrs	no data	no data
Hayden Cooper	Group Head of Media Relations	no data	no data	no data

2.4yrs

Average Tenure

53yo

Average Age

Experienced Management: WBC's management team is considered experienced (2.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Peter King	CEO, MD & Director	4.3yrs	AU$5.74m	0.0076% A$ 6.9m
Michael Ullmer	Independent Non-Executive Director	less than a year	AU$141.09k	0.00036% A$ 327.0k
Steven Gregg	Independent Non-Executive Chairman	less than a year	no data	0.0022% A$ 2.0m
Nora Scheinkestel	Independent Non-Executive Director	3.1yrs	AU$332.03k	0.00048% A$ 436.0k
Audette Exel	Independent Non-Executive Director	2.6yrs	AU$328.20k	0.00033% A$ 299.7k
Nerida Caesar	Independent Non-Executive Director	6.6yrs	AU$265.29k	0.00039% A$ 354.2k
Peter Nash	Independent Non-Executive Director	6.1yrs	AU$342.03k	0.00044% A$ 399.6k
Margaret Seale	Independent Non-Executive Director	5.1yrs	AU$296.18k	0.00030% A$ 272.5k
Timothy Burroughs	Independent Non-Executive Director	1.1yrs	AU$152.29k	0.0019% A$ 1.8m

3.1yrs

Average Tenure

61yo

Average Age

Experienced Board: WBC's board of directors are considered experienced (3.1 years average tenure).

Westpac Banking Management

Management criteria checks 4/4

Key information

Recent management updates

Westpac Banking Corporation Announces Board Changes

High number of new directors

Chris Lynch to Step Down as Independent Non-Executive Director of Westpac Banking Corporation, Effective 14 December 2023

Westpac Group Appoints Steven Gregg as Non-Executive Director and Chairman-Elect

Westpac Banking Corporation Announces Executive Changes

Westpac Banking Corporation Announces Resignation of Michael (Mike) Hawker AM as Independent Non-Executive Director

Recent updates

First half 2024 earnings released

Now 20% undervalued

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

Westpac Banking Corporation Announces Distribution for WBCPK - CAP NOTE 3-BBSW+2.90% PERP NON-CUM RED T-09-29 for the quarter ending March 21, 2024, Payable on March 21, 2024

Westpac Banking Corporation Announces Distribution for WBCPM - CAP NOTE 3-BBSW+3.10% PERP NON-CUM RED T-09-31 for the Quarter Ending March 22, 2024, Payable on March 22, 2024

Westpac Banking Corporation Announces Board Changes

Westpac Banking Corporation Announces Ordinary Fully Franked Dividend for the Six Months Ended September 30, 2023, Payable on December 19, 2023

High number of new directors

Westpac Banking Corporation to Report Q3, 2024 Results on Aug 19, 2024

Westpac Banking Corporation to Report Q1, 2024 Results on Feb 19, 2024

Westpac Banking Corporation Announces Final Fully Franked Dividend, Payable on 19 December 2023

Westpac Banking Corporation to Report Fiscal Year 2024 Results on Nov 04, 2024

Westpac Banking Corporation (ASX:WBC) entered into an agreement to acquire Electronic health claims processing business of Dedalus.

Chris Lynch to Step Down as Independent Non-Executive Director of Westpac Banking Corporation, Effective 14 December 2023

Westpac Group Appoints Steven Gregg as Non-Executive Director and Chairman-Elect

Westpac Fails to Sell Pacific Banking Business

Westpac Acknowledges the Civil Penalty Proceedings Commenced by ASIC

Westpac Banking Corporation Acknowledges ASIC Proceedings

Westpac Banking Corporation Announces Executive Changes

Westpac Banking Corporation Announces Resignation of Michael (Mike) Hawker AM as Independent Non-Executive Director

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

Now 21% undervalued after recent price drop

Now 22% undervalued after recent price drop

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

Westpac Banking Corporation Determines Interim Fully Franked Dividend, Payable on 27 June 2023

First half 2023 earnings: EPS exceeds analyst expectations

High number of new directors

Now 21% undervalued after recent price drop

Westpac Banking Corporation Announces Resignation of Peter Ralph Marriott as Director

Tyro Payments Ends Takeover Talks with Potentia Capital Management

Westpac Banking Corporation Announces Ordinary Fully Franked Dividend for the Six Months Ended September 30, 2022, Payable on December 20, 2022

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

Westpac Reportedly Closer to Tyro Deal as Second Suitor Turns Up

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

High number of new directors

Upcoming dividend of AU$0.64 per share

Westpac Banking Corporation, Annual General Meeting, Dec 14, 2023

Full year 2022 earnings released: EPS: AU$1.60 (vs AU$1.49 in FY 2021)

Westpac Banking Corporation Announces Board Changes

Tyro Payments in Takeover Talks with Selected Parties

Westpac Banking Corporation Announces Ordinary Distribution on CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-03-27 for the Quarter Ending 22 December 2022, Payable on 22 December 2022

AMP Reportedly in Box Seat with Westpac Wealth Unit Offer

Westpac Banking Corporation Announces the First Distribution, Payable on 22 September 2022

Macquarie Reportedly Out of Westpac Race

Westpac Banking Corporation Declares Actual Ordinary Dividend on WBCPJ - CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-03-27 for the Quarter Ending September 22, 2022, Payable on September 22, 2022

Westpac Banking Corporation announces dividend on WBCPE - CAP NOTE 3-BBSW+3.05% PERP NON-CUM RED T-09-22 for the period ending July 20, 2022, Payable on July 20, 2022

Mercer (Australia) Pty Ltd agreed to acquire Advance Asset Management Limited from Westpac Banking Corporation (ASX:WBC).

Mercer (Australia) Pty Ltd acquired Advance Asset Management Limited from Westpac Banking Corporation (ASX:WBC).

Consensus forecasts updated

Upcoming dividend of AU$0.61 per share

First half 2022 earnings: EPS and revenues exceed analyst expectations

Westpac Banking Corporation Announces Dividend for the Six Months Ended March 31, 2022, Payable on June 24, 2022

High number of new directors

Westpac Banking Corporation Reportedly Takes Receipt of Indicative Bids for Its Investment Platform Business

Westpac Banking Corporation Announces Dividend on WBCPE - CAP NOTE 3-BBSW+3.05% PERP NON-CUM RED T-09-22 for Quarter Ending June 23, 2022, Payable on June 23, 2022

Westpac Banking Corporation Declares Dividend on WBCPJ - CAP NOTE 3-BBSW+3.40% PERP NON-CUM RED T-03-27 for the Quarter Ending June 22, 2022, Payable on June 22, 2022

Westpac Banking Corporation (ASX:WBC) announces an Equity Buyback for AUD 3,500 million worth of its shares.

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Westpac Banking Corporation Announces Executive Changes

ACN 603 303 126 Pty Ltd completed the acquisition of motor vehicle dealer finance and novated leasing businesses of Westpac Banking Corporation from Westpac Banking Corporation (ASX:WBC).

Colonial First State Reportedly Sets Sights on BT Panorama

Westpac Banking Corporation (ASX:WBC) agreed to acquire MoneyBrilliant Pty Ltd from AMP Limited (ASX:AMP) and Peter Lalor.

Westpac Reportedly Super on the Block

Independent Non-Executive Director recently bought AU$99k worth of stock

Independent Non-Executive Director recently bought AU$199k worth of stock

Independent Non Executive Chairman recently bought AU$116k worth of stock

Full year 2021 earnings released: EPS AU$1.38 (vs AU$0.64 in FY 2020)

Independent Non-Executive Director recently sold AU$321k worth of stock

Arch Capital Group Ltd. (NasdaqGS:ACGL) completed the acquisition of Westpac Lenders Mortgage Insurance Limited from Westpac Banking Corporation (ASX:WBC) for approximately AUD 350 million.