Steven Gregg will be appointed as a Non-Executive Director of Westpac and will succeed John McFarlane as Chair after the December AGM.

Morgan Stanley likes his CV which should be suited to his priorities as listed by management: to reposition for growth, step-up work on technology transformation, along with delivering better service for customers and better value for shareholders.

The Equal-Weight rating and $20.10 target are retained. Industry View: In-Line.

Sector: Banks.

Target price is $20.10.Current Price is $21.48. Difference: ($1.38) - (brackets indicate current price is over target). If WBC meets the Morgan Stanley target it will return approximately -7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2023 Acquisdata Pty Ltd., source FN Arena