Westpac Banking (ASX:WBC) has announced the appointment of Steven Gregg as its new Chair.

Gregg, who previously served as a non-executive director for the company, is now slated to take up the mantle of chairman-elect.

The bank also stated that the current chair, John McFarlane will see through his term in the position until this year’s annual general meeting slated for December 14.

Westpac Banking is a leading financial services provider in the Australia and New Zealand region, with a broad range of banking and financial services.