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2 December 2021
The Australian Banking Association (ABA) Council has today appointed Peter King, Chief Executive Officer of Westpac, as Chair.
At its Annual General Meeting, the Council thanked outgoing Chair, Matt Comyn, for his leadership over the past two years – a time of great challenge amidst the pandemic, and rapid digital change as customers shift their banking online.
Marnie Baker, CEO of Bendigo and Adelaide Bank, will remain in the role of Deputy Chair.
Peter King, CEO of Westpac and new ABA Chair, said putting customers first will remain the priority of the industry during his term.
“Australian banks have played a vital role in helping their customers through the worst of the pandemic. Whatever lies ahead, this will continue.”
“Rebuilding the economy and overcoming new challenges such as the financial risk of climate change will require a team effort across industry and government. Banks are ready to play their part.”ABA Chair, Peter King
Anna Bligh, CEO of the ABA, said she congratulated Mr King on his appointment and looks forward to working with him over the next two years.
“The Chair of the ABA is an important role that provides strategic direction and leadership for the banking industry and I look forward to working with Peter King during his tenure,” Ms Bligh said.
“COVID-19 has tested the Australian economy and our banking industry has proven resilient. As our economy looks to again rebound from this year’s lockdowns, we will ensure we continue to focus on putting customers first and working with governments and stakeholders to benefit the Australian economy.
“I would also like to take the opportunity to thank Matt Comyn for his excellent leadership. Matt’s thought-leading expertise during challenging circumstances has been instrumental in supporting Australians through the pandemic.”
ABA Chairs are appointed by the ABA Council for a period of two years.
“The Australian Banking Association (ABA) welcomes the agreement reached today on the proposed safeguard mechanism reforms, given it paves the way for the passing of a critical piece of legislation for Australia.
“This is about engaging with the entire banking ecosystem in order to ensure the accessibility of the sector’s services are best serving our diverse community now, and into the future.”
“What is underpinning this bank failure is a number of things, but not least of all, it’s a very niche bank with high exposure to one part of the economy. And that’s the part of the economy that’s been quite volatile and troubled”