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David Morgan
Elected to Westpac Banking Corp’s Board in 1997 prior to being appointed chief executive in March 1999, Morgan skilfully led Westpac to achieve ambitious growth targets.
In his 18-year career at Westpac, Morgan led the bank to its current position as the highest-ranked Australian bank at a time when its larger peers are under pressure from international rivals such as HBOS, ING and GE Money, by using the internet and aggressive pricing to undercut more branch-focused incumbents in areas such as deposits and credit cards. Japan's Shinsei Bank appointed Morgan to advise the bank on rebuilding its management after a failed merger with local rival Aozora Bank.
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Veloso steps down as PNB President 5 July 2022