Westpac director to step down

Another member of the Westpac board will step down. Anita Fung was appointed as a non-executive director in late 2018.

The former HSBC Hong Kong CEO has had a long career in banking, having also held positions with Standard Chartered Bank.

In a statement on the ASX, Fung's retirement is due to her increasing commitments in Asia. She will retain her role as a member of Westpac's Asia Advisory Board.

Outgoing board chair Lindsay Maxsted said, "Anita's executive management expertise, deep experience in all aspects of banking, and knowledge of Asian markets has been a great asset to the Board.

"It is unfortunate that the demands on her time from other existing commitments mean that she has had to relinquish the Westpac Board role. We thank Anita for her contribution and wish her every future success."

Fung's final day will be on 31 March.