Westpac Banking Corporation has announced the appointment of Tim Burroughs and Michael Ullmer AO as independent Non-executive Directors, subject to regulatory approval. Tim's appointment is expected to be effective on 10th March 2023 and Michael's appointment is expected to be effective on 3rd April 2023. The two new appointments replace former directors Steven Harker and Peter Marriott.

Mr. Burroughs has more than 40 years' experience in finance, international banking and mergers and acquisitions. Mr. Burroughs was formerly Chairman of Investment Banking at Goldman Sachs Australia, where he worked for 11 years. Prior to this, Tim held senior positions at Merrill Lynch including Chairman of Mergers and Acquisitions.

From 1993- 1997, Tim was Principal at Centaurus Corporate Finance, a leading independent advisory firm. Mr. Ullmer has more than 40 years' experience in international banking, finance and professional services. Mr. Ullmer is the Chairman of Lendlease Corporation and was formerly a Non-executive Director of Woolworths Limited.

Mr. Ullmer was previously the Deputy Group Chief Executive Officer of the National Australia Bank (NAB) from 2007 to 2011. He joined NAB in 2004 as Finance Director and held a number of key positions including Chairman of the subsidiaries Great Western Bank (US) and JB Were. Prior to NAB, Mr. Ullmer was at Commonwealth Bank of Australia initially as Group Chief Financial Officer and then Group Executive with responsibility for Institutional and Business Banking.

Before that, he was a Partner at accounting firms KPMG (1982 to 1992) and Coopers & Lybrand (1992 to 1997).