Westpac Banking Corp (ASX: WBC) shares are marching higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $3.57. In morning trade on Wednesday, shares are changing hands for $31.91 apiece, up 1.1%.
For some context, the ASX 200 is up 0.5% at this same time.
This follows news of another new top level appointment at the big four bank.
Here's what's happening.
ASX 200 bank appoints new CPO
In an announcement this morning deemed non-price sensitive to Westpac shares, the company reported it has appointed Kate Dee to the position of chief people officer (CPO).
Dee will report directly to CEO Anthony Miller.
Miller, who joined Westpac in 2020 from Deutsche Bank, took over the top spot from former CEO Peter King in December 2024.
Dee is currently CPO at Bupa Asia Pacific. Westpac said she will take up her new position later this year.
"Kate is a highly accomplished leader who has successfully steered people and culture teams in a range of industries around the world. She will be a great addition to the Westpac group executive," Miller said.
Miller added:
At Westpac, we have 35,000 wonderful people and we are on a mission to make this the best place to work. Kate will help us reach that goal.
I look forward to seeing Kate's energetic and engaging approach in action at Westpac, alongside her steady focus on linking customer outcomes to an organisation's people and culture.
It was only two weeks ago, on 17 March, that Westpac shares grabbed our attention after the bank announced the appointment of Nathan Goonan as chief financial officer (CFO). Goonan, who will replace current CFO Michael Rowland, is stepping over from National Australia Bank Ltd (ASX: NAB), where he's been since 2013.
"Nathan is a seasoned financial services executive, with more than 20 years' experience across all aspects of banking," Miller said in March. "His breadth of knowledge across many areas, coupled with his deep expertise in finance, makes him an ideal fit."
How have Westpac shares been tracking?
Alongside the other big four ASX 200 banks stocks, Westpac enjoyed a stellar run in 2024, with shares soaring 41.1% over the year. This saw Westpac stock hit a near five-year closing high of $34.71 on 14 February.
Since then, Westpac shares have come under selling pressure, alongside the other banks and the broader market.
At today's $31.91 a share, Westpac stock is down 8.1% since 14 February.
