Banking News

Westpac IB CEO Retires

Westpac IB CEO Retires

(29 May 2020 – Australia) Westpac has announced that Lyn Cobley, Westpac Institutional Bank (IB) CEO, is retiring from her position after five years and over 30 years in the banking and finance sector.

Ms Cobley spent eight years at CBA including as executive general manager, retail products and third party banking prior to joining Westpac, also performed senior roles in securitisation at Citi Bank and was Head of Financial Institutions in Australia for Barclays.

The announcement follows hot on the heels of Westpac CIO Craig Bright and Retail Bank Head David Lindberg departing the group. Ms Cobley will remain in the role until 1 July. Curt Zuber, current group treasurer, will act as CEO for Westpac Institutional Bank from 1 July while an international search for Ms Cobley’s permanent replacement commences. Westpac Institutional Bank and Treasury CFO Joanne Dawson will act as group treasurer during this period.

“I have thoroughly enjoyed a long and varied banking career. However, having held executive positions through a number of significant events, including the GFC and this year the COVID-19 pandemic, it is now time to step back and develop a portfolio career, including board positions” Ms Cobley said.

“Lyn navigated institutional banking during a period of intense global competitive pressures and structural changes across these markets following the global financial crisis. Under Lyn’s leadership, the Westpac Institutional Bank team has worked tirelessly to meet the needs of the bank’s government, corporate and institutional customers, most particularly during the COVID-19 pandemic” Westpac CEO Peter King said.

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