Australian banking major Westpac Group has named current CFO Phil Coffey as its deputy CEO.
In his new role, Coffey will work with the firm’s CEO Gail Kelly on a range of critical strategic issues.
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Coffey will also retain his current responsibilities for the strategy, and mergers and acquisitions functions, and will continue as a director of Westpac New Zealand.
Commenting on the appointment, Kelly said: "I am delighted with Coffey’s appointment as deputy CEO. His expertise in risk, finance, capital markets and regulatory issues will be invaluable in the further development of the Group’s strategy and as we address both the challenges and opportunities facing the industry."
Additionally, Westpac has also appointed Peter King, who has been the deputy CFO since 2011, as its new CFO.
In his new role, King will be responsible for external financial reporting, group financial performance management and capital planning.
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By GlobalDataPreviously, King held senior roles in financial markets, treasury, technology and operations, and business and consumer banking.
Kelly added: "King’s promotion shows the depth of talent in the Group and our ability to recognise and develop our future leaders. He is an extremely talented executive and a wonderful addition to our executive team."
The new appointments will come into effect from 1 April 2014.
