Westpac Banking Corp <WBC.AX> on Thursday tapped Deutsche Bank's chief of Australia and New Zealand as its institutional business head, as the lender rebuilds its top management team following a money-laundering scandal.
Australia's second-largest lender is hoping to bring stability following a management shake-up triggered by a lawsuit featuring accusations that it allegedly enabled payments between known child exploiters.
The Sydney-based firm has made a string of top appointments in recent months and is yet to find a permanent head for its consumer division, its largest.
Anthony Miller, who has led Deutsche Bank's <DBKGn.DE> Australia and New Zealand operations since 2017, will start in his new role later this year, Westpac said in a statement.
At Deutsche, Miller last year helped steer the German lender's Antipodean unit through a huge overhaul of the investment bank, aimed at axing 18,000 jobs globally, including getting rid of its equities business.
Deutsche Bank's Glenn Morgan, who used to lead the equities unit in Australia, will act as interim CEO, a spokeswoman said.
At Westpac, Miller replaces Lyn Cobley, who left the company in May along with other top executives amid accusations that Westpac had enabled 23 million payments in breach of anti-money laundering laws.
Westpac, which is expected to provide a third-quarter update on Aug. 18, has set aside A$900 million ($578 million) towards an expected fine over the accusations.
It has admitted to a number of those breaches and is engaging in court with the regulator that brought the charges.
On July 14, Westpac appointed KPMG partner Michael Rowland as its chief financial officer, filling the last of its top three management positions.
(Reporting by Paulina Duran in Sydney, and Rashmi Ashok in Bengaluru; Editing by Anil D'Silva and Subhranshu Sahu)
