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 $7.82M. 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 percentage	34.9%
CEO tenure	4.9yrs
CEO ownership	0.01%
Management average tenure	3yrs
Board average tenure	3.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Peter King's remuneration changed compared to Westpac Banking's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	AU$7m	AU$2m	AU$7b
Jun 30 2024	n/a	n/a	AU$7b
Mar 31 2024	n/a	n/a	AU$7b
Dec 31 2023	n/a	n/a	AU$7b
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

Compensation vs Market: Peter's total compensation ($USD4.51M) is below average for companies of similar size in the US market ($USD12.66M).

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

Name	Position	Tenure	Compensation	Ownership
Peter King	CEO, MD & Director	4.9yrs	AU$6.93m	0.010% $ 7.8m
Michael Rowland	Chief Financial Officer	4.2yrs	AU$3.04m	0.0016% $ 1.2m
Scott Collary	Group Chief Information Officer	1.3yrs	AU$3.42m	0.0041% $ 3.1m
Christine Parker	Group Executive of Human Resources	13.1yrs	AU$2.59m	0.0021% $ 1.5m
Jason Yetton	Chief Executive of Consumer	4.5yrs	AU$3.25m	0.0023% $ 1.7m
Carolyn McCann	Group Executive of Customer & Corporate Services	2.7yrs	AU$2.61m	0.0032% $ 2.4m
Anthony Miller	Chief Executive of Business & Wealth	1.3yrs	AU$3.62m	0.0054% $ 4.1m
Ryan Zanin	Chief Risk Officer	2.6yrs	AU$4.15m	0.0015% $ 1.2m
Catherine McGrath	Chief Executive Officer of Westpac New Zealand Limited	3yrs	AU$2.21m	no data
Nell Hutton	Chief Executive of Westpac Institutional Bank	1.1yrs	AU$3.27m	0.0048% $ 3.6m
Justin McCarthy	General Manager of Investor Relations	no data	no data	no data
Shannon Finch	Group General Counsel	3yrs	no data	no data

3.0yrs

Average Tenure

54yo

Average Age

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

Board Members

Name	Position	Tenure	Compensation	Ownership
Peter King	CEO, MD & Director	4.9yrs	AU$6.93m	0.010% $ 7.8m
Michael Ullmer	Independent Non-Executive Director	1.6yrs	AU$309.06k	0.00037% $ 279.4k
Steven Gregg	Independent Non-Executive Chairman	less than a year	AU$716.64k	0.0022% $ 1.7m
Audette Exel	Independent Non-Executive Director	3.2yrs	AU$344.44k	0.00035% $ 264.3k
Nerida Caesar	Independent Non-Executive Director	7.2yrs	AU$285.88k	0.00040% $ 302.0k
Peter Nash	Independent Non-Executive Director	6.7yrs	AU$367.79k	0.00044% $ 332.2k
Margaret Seale	Independent Non-Executive Director	5.7yrs	AU$290.44k	0.00030% $ 226.5k
Andy Maguire	Independent Non-Executive Director	less than a year	AU$59.80k	no data
Timothy Burroughs	Independent Non-Executive Director	1.7yrs	AU$297.46k	0.0020% $ 1.5m

3.2yrs

Average Tenure

62yo

Average Age

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

Westpac Banking Management

Management criteria checks 3/4

Key information

Recent management updates

Westpac Banking Corporation Announces Board Retirements

Westpac Banking Corporation Announces Acting CEO of the Business Segment

Westpac Announces CEO Changes

Westpac Banking Corporation Appoints Andy Maguire as an Independent Non-Executive Director

Westpac Banking Corporation Announces Board Changes

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

Recent updates

Westpac Banking Corporation Announces Board Retirements

Westpac Banking Corporation to Report Fiscal Year 2025 Final Results on Nov 03, 2025

Westpac Banking Corporation to Report Q2, 2025 Results on May 05, 2025

Westpac Banking Corporation Announces Acting CEO of the Business Segment

Westpac Announces CEO Changes

Westpac Banking Corporation Appoints Andy Maguire as an Independent Non-Executive Director

Westpac Banking Corporation Announces Special Dividend, Payable on 25 June 2024

Westpac Banking Corporation Announces Special Dividend, Payable on 25 June 2024

Westpac Abandons Bid to Sell RAMS Home Loans

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

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 Announces Executive Changes

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

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

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

Westpac Reportedly Closer to Tyro Deal as Second Suitor Turns Up

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

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).

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

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.

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

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.

A.C.N. 603 303 126 PTY Ltd completed the acquisition of Capital Finance Australia Limited from Westpac Banking Corporation.

Allianz Australia Limited completed the acquisition of Westpac General Insurance Limited and Westpac General Insurance Services Limited from Westpac Banking Corporation (ASX:WBC) for approximately AUD 750 million.

Westpac Reportedly Set to Make Decision on Double Life Insurance Asset Sell-Off for Australia and NZ Units

Westpac Banking Confirms It Is Retaining Westpac New Zealand

TPG Capital Reportedly Losing Interest in Westpac Car Loan Sale

Westpac Sell-Off Reportedly Ramps Up

Westpac Banking Corporation Announces Ordinary Fully Franked Dividend for the Six Months Ended March 31, 2021, Payable on June 25, 2021

Westpac and Shine Lawyers Settle Class Action

An unknown buyer acquired an unknown minority stake in Zip Co Limited (ASX:Z1P) from Westpac Banking Corporation (ASX:WBC).

Westpac Banking Corporation Announces Management Changes

Westpac Banking Corporation Announces Resignation of Rebecca Lim as Group General Counsel & Enterprise Executive

Westpac Reportedly Prepares to Kick Off A Formal Sale Process for Its Life Insurance Business

Westpac Reportedly Looks to Sell Off Super Assets Separately from BT Unit

Westpac Banking Corporation Announces Board Changes, Effective from March 1, 2021

High Court of Australia Dismisses Westpac's Appeal

Westpac Ends BT Master Relationship Agreement with IOOF

CEO Compensation Analysis

CEO