Westpac Institutional Bank CEO to retire

Westpac's Lyn Cobley, chief executive of the institutional bank, is retiring from the bank.

"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," said Cobley.

Cobley has been in the banking industry for more than 30 years, joining Westpac Institutional Bank in September of 2015. She joined the organisation from CBA where she was executive general manager for retail products and third parting banking. She's also held roles with Citi, EY, and Barclays where she was the head of Australian financial institutions.

Said Westpac CEO Peter King, "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."

Curt Zuber, Westpac's group treasurer, will act as chief exec of the insto bank from 1 July.