Jason Yetton, the chief executive of Westpac’s consumer division, has resigned after serving less than two years in the position. This departure contributes to a series of recent leadership changes within the Australian banking giant. The bank has initiated a recruitment process to find Yetton’s replacement, and he has agreed to remain in his role while the search is ongoing.
Yetton assumed leadership of the consumer division in 2023. His tenure at Westpac includes several executive positions, such as leading group strategy, and heading the retail and business banking, and specialist business divisions. The announcement follows the retirement of chief financial officer Michael Rowland in December and former chief executive Peter King in September, signaling a period of significant transition at the senior management level for Westpac. Market analysts are closely watching these developments and their potential impact on the bank’s strategic direction and performance.