Cohen brings over two decades of experience in financial services to the role, having previously worked in numerous capacities at CBA, including deputy chief executive (overseeing business divestments, supervising mergers and acquisitions, and progressing customer complaint resolution and remediation), group general counsel, group executive human resources, group executive corporate affairs, and chief risk officer.

He has also worked as the general counsel at AMP and was a partner at Allens Arthur Robinson (now Allens).

Elsewhere, Debra Hazelton – former chair of AMP Ltd and AMP Bank – was also appointed as an independent non-executive director.

Speaking about the appointments, Westpac chair Steven Gregg said: “We are pleased to welcome Debra and David to the board. Their extensive experience across banking and financial services complements the skills of existing directors and will be invaluable as Westpac executes its strategy.

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“Debra brings a wealth of experience in transformation, capital markets and people and culture from her senior executive and director roles in Australia and Japan and will join our board remuneration committee.

“David’s breadth of large-scale executive leadership roles and experience in banking transformation, risk and regulation and governance will also be highly valued, and he will join our board risk committee.”

Cohen’s appointment is expected to be effective on or around 1 April.