Westpac Combines Consumer and Business Divisions

ASX Release

17 MARCH 2021
WESTPAC COMBINES CONSUMER AND BUSINESS DIVISIONS

Westpac Banking Corporation today announced t hat it was bringing together the
leadership of its Consumer and Business divisions into a new Consumer & Business
Banking division.
The new division will be led by the current Chief Executive, Consumer, Chris de Bruin.
Westpac Group CEO, Peter King, said the Group’s lines of business model had enabled
the company to consolidate divisional management and simplify the business.
“Our new lines of business operati ng model has given us a solid foundation for this

change, with greater clarity on accountability and a common management approach
across each of the six business lines.
“The combined division will drive simplification of banking and help to reduce cost,
including by consolidating support functions. The change will enable more efficient
utilisation of common assets such as branches and call centres, and better capitalise on
the work underway to improve our capabilities, particularly in service, digital and data.
“Mr de Bruin has significant experience running both consumer and business banking
functions at a large multinational bank, as well as a strong background in fintech and
digital banking, which will be particularly valuable as we better support customers’
needs,” said Mr King.
Guil Lima, the current Chief Executive, Business will be leaving the Group and Mr King
thanked him for leading the Business division over the past 15 months, particularly
during COVID-19.
The changes will be effective from 22 March 2021.
For further information:
David Lording Andrew Bowden
Head of Media Relations Head of Investor Relations
0419 683 411 0438 284 863

This document has been authorised for release by Tim Hartin, General Manager & Company
Secretary.
Level 18, 275 Kent Street
Sydney, NSW, 2000