Newly appointed CEO, Anthony Miller [Source: Supplied]

Westpac has appointed an internal candidate to succeed CEO Peter King, with Anthony Miller tapped to step into the top job from December.

The announcement caps a stellar rise for the 54-year-old.

Miller joined Westpac in 2020, first running Westpac Institutional Bank, before taking over the Business & Wealth division last year.

Chair Steven Gregg, himself almost a year into his tenure at the bank, says Miller was the standout candidate.

Gregg says in their search for a CEO, they looked for an executive who is customer-focused with a proven record of performance and a deep understanding of the Australian market.

He adds the appointment of an internal successor will ensure a “seamless transition”, adding “Miller knows what needs to be done and will move at pace.”

Miller came to Westpac from Deutsche Bank where he spent four years as Australia/NZ CEO and prior to that 16 years at Goldman Sachs.

Miller says he wants Westpac to be a bank that’s built on trust and reliability – always there to help our customers through every one of life’s moments.