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Speaker 1: Welcome to Fearing Greeds one on one. I'm Sean Almer.

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Speaker 1: Every week I sit down with a business leader and

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Speaker 1: find out everything I can about their world. This week's

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Speaker 1: guest is Westpac CEO Anthony Miller. The episode was recorded

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Speaker 1: in front of a live audience hosted by the Trans

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Speaker 1: Tasman Business Circle. Anthony, how did you find yourself of

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Speaker 1: Westpac five years ago? This was not on the horizon.

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Speaker 2: It certainly wasn't. In fact, I think in some respects

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Speaker 2: in an accident that I ended up as CEO of Westpac.

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Speaker 2: I was working investment banking for a long time and

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Speaker 2: for various reasons, I was CEO of Deutsche Bank, and

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Speaker 2: I was spending a lot of time flying out of

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Speaker 2: Sydney because I was co head of Asia, so I

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Speaker 2: was on the plane all the time. And then COVID

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Speaker 2: arrived and for the first time in about five or

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Speaker 2: six years, I was, if you will, forced to stay

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Speaker 2: in Sydney for more than a couple weeks. And my

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Speaker 2: son had been college in the United States and he

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Speaker 2: had to come back. And that was at that time

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Speaker 2: when COVID first started. Your allowed to stay in your

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Speaker 2: own apartment if you had one, rather than a hotel,

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Speaker 2: and we hadn't been in the same room for more

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Speaker 2: than a week for a very long time, and it

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Speaker 2: was just such a It was just so great. And

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Speaker 2: I also recognized I needed to spend more time at

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Speaker 2: home and be more focused at home than I was,

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Speaker 2: and so I'd made this decision then I'm not going

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Speaker 2: to do once lockdown finishes, which I thought would be

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Speaker 2: two or three months, that I would continue at Deutsche Bank.

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Speaker 2: And literally as I made that decision, Peter King reached

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Speaker 2: out and said, I'd like you to think about being

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Speaker 2: head of the institutional business. And I would have done

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Speaker 2: that job in any circumstance, let alone when I've made

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Speaker 2: a decision that I didn't want to stay at Deutscher

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Speaker 2: for personal reason. So I then joined Westpac to run

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Speaker 2: the institutional business and it was a real pleasure. I

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Speaker 2: really enjoyed it, a huge amount of potential. Didn't think

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Speaker 2: it never fall that chief executive of the bank was

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Speaker 2: what they thought I might be able to do, they

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Speaker 2: being the board and and my colleagues. And then I

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Speaker 2: got an opportunity to run the business and wealth, and

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Speaker 2: I wished I'd been in the business banking much earlier

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Speaker 2: because that was just a joy. And then very fortunately

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Speaker 2: and I think graciously, I was given an opportunity to

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Speaker 2: be CEO. So only about twenty four months ago I

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Speaker 2: did a sort of land with me that actually, this

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Speaker 2: is an opportunity that I might focus on and really

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Speaker 2: go after.

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Speaker 1: Now we'll get to some of the substantive issues in

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Speaker 1: a moment, but I'm going to drill into this. Do

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Speaker 1: you get a phone call? What happens that chair gives

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Speaker 1: you a ring and say hey, what are you doing?

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Speaker 2: Yeah? Yeah, So he did ask me to go around

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Speaker 2: to his house, and I thought, well, this will either

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Speaker 2: mean I've been given an opportunity or I've been given

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Speaker 2: my pink slip and so and so he just said, look,

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Speaker 2: you know, the board had put me through an exercise.

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Speaker 2: Clearly there was external and internal candidates, and they had

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Speaker 2: I suppose landed or liked what I was thinking and

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Speaker 2: where I think we could go and what we could achieve.

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Speaker 2: And he said would you be And he sort of

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Speaker 2: framed it in a really interesting way and just said

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Speaker 2: would you be up for this? And it was the

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Speaker 2: right question because it is an enormous responsibility and an

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Speaker 2: enormous role and you have just got to be up

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Speaker 2: for it and very committed to it. And I had

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Speaker 2: to spend some time discussing with my wife and family

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Speaker 2: about that, and in particular because you know, you've got

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Speaker 2: to commit to this and give it everything, and I'm

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Speaker 2: lucky in that respect. Gredor was very supportive, and yeah,

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Speaker 2: I decided, yes, I'm up for it.

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Speaker 1: And what's it like personally? So we talked about you

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Speaker 1: being a young CEO. You're not the youngest, so I

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Speaker 1: think you're almost a veteran among the big four. Yeah,

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Speaker 1: in that common really the only one of longer than

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Speaker 1: eighteen months or so. Andrew Irvine the other day kind

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Speaker 1: of found himself in the media for reasons. He didn't

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Speaker 1: want to be what's that spotlight like?

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Speaker 2: Yeah, look, I thought that was very unfair and Andrew,

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Speaker 2: to be honest with you, have you said that I

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Speaker 2: do and always expected that there would be an element

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Speaker 2: of limelight because you are representing this company, and I

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Speaker 2: always thought that it would be quite an important responsibility

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Speaker 2: in terms of how you conducted yourself and how you

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Speaker 2: therefore needed to present yourself, and you would be constantly

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Speaker 2: looked out and chart and if you well examined as

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Speaker 2: to what you're doing. So I was well prepared for that.

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Speaker 2: And you know, there's a responsibility of being the CEO

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Speaker 2: for Australia's first bank, first company, it's oldest bank, it's

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Speaker 2: oldest company. And I always felt that way bit more importantly,

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Speaker 2: that just means and I always was ready for the

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Speaker 2: spotlight because I just think as a real responsibility in

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Speaker 2: running the company to ensure that I project myself and

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Speaker 2: I project the company in the right way that reflects

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Speaker 2: really well on the fact that we've got thirty five

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Speaker 2: thirty six thousand fabulousmployees.

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Speaker 1: What surprised you about the job? And I'm leading you

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Speaker 1: down a canbra path here because I've asked you this before.

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Speaker 2: So what we do at West Back, as we take

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Speaker 2: deposits and we lend money and we do a few

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Speaker 2: other things, I'm surprised at how much stuff other than

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Speaker 2: that is coming at me and is on the table.

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Speaker 2: And so I find it amazing the amount of external

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Speaker 2: constituents who are not shareholders, who are not employees, who

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Speaker 2: are not you know, in some many spects customers that

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Speaker 2: I have to engage with. And that's I anticipated having

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Speaker 2: to spend time in Canberra and spend time with regulators

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Speaker 2: and time with community and community leaders. But I was

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Speaker 2: a little bit surprised at how much is required. And

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Speaker 2: I had thought that maybe it was the political cycle

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Speaker 2: that was just at a peak as we led into

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Speaker 2: the election. But my sense is that it will be

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Speaker 2: it will remain ongoing, and so I've just got to

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Speaker 2: make sure I deliver.

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Speaker 1: Okay or one of the country's biggest companies, one of

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Speaker 1: the biggest banks, we had an inflation figure this morning.

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Speaker 1: You may not have caught up point six percent for

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Speaker 1: the quarter annualized infation, close to the Reserve Bank's target.

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Speaker 1: What happens on interest.

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Speaker 2: Rates, So I think that you know, the trim demean is.

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Speaker 2: It's the one that I think we should all fixate on.

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Speaker 2: The fact that it wasn't up probably is another data

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Speaker 2: point that reinforces it is open to the Reserve Bank

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Speaker 2: to cut rates. Having said that, it's still not overwhelming

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Speaker 2: in terms of where we are and where the inflationary

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Speaker 2: challenges are. And so therefore, while the market says and

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Speaker 2: is pricing something like ninety percent certainty of a rate cut,

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Speaker 2: and we are forecasting a rate cut in August and

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Speaker 2: November and two more next year. I think we see

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Speaker 2: to continue to remain thoughtful about the fact that the

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Speaker 2: Reserve Bank and the Reserve Bank governors done an exceptional job,

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Speaker 2: and it's very focused on is it the right time,

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Speaker 2: is the data where it needs to be to cut rates?

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Speaker 2: It feels like there's even more evidence now that they should.

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Speaker 2: But I can't help but think that army sort of

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Speaker 2: four weeks ago, everyone was absolutely clear that there was

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Speaker 2: a rate cut coming, and it didn't. And I think

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Speaker 2: we're lucky to have a Reserve Bank and a governor

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Speaker 2: with that independence and that confidence to continue to sort

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Speaker 2: of look after the country's long term interests. And in

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Speaker 2: many ways, the Reserve Bank's done an exceptional job when

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Speaker 2: you look at where we stand relative to our peers.

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Speaker 1: In terms of what Westpac can bring to this debate.

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Speaker 1: The high frequency data, credit cards, debit cards, what's it

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Speaker 1: telling you about households, what's it telling you about businesses?

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Speaker 2: Yeah, so we are in a very privy position because

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Speaker 2: you know, essentially twenty percent comes through Westpac, whether it

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Speaker 2: be payments, credit cards, mortgages, et cetera. So we have

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Speaker 2: a very good lens or insight as to what's going on.

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Speaker 2: Two things that sort of stand out is that those

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Speaker 2: indicators of stress, for example, ninety day delinquency mortgages continue

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Speaker 2: to improve. They are at their worst in the middle

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Speaker 2: of last year and they continue to improve. But equally,

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Speaker 2: on the business book side, again things continue to improve,

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Speaker 2: and so stress levels continue to be lower. That's not

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Speaker 2: to diminish, or if you will, demean, the fact that

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Speaker 2: it's still very hard going. But we are starting to

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Speaker 2: see improvements right across every aspect of the business. And

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Speaker 2: you know, some of the growth that we're seeing in

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Speaker 2: business lending is very encouraging in terms of the appetitive businesses,

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Speaker 2: which are the critical engine room of growth and jobs

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Speaker 2: in the country, as much more positive than perhaps the

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Speaker 2: headlines and the narrative that you see in the media

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Speaker 2: day in day out. Have you said all that, you know,

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Speaker 2: it is still challenging for a small businesses where we

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Speaker 2: define that as less than twenty employees, it still looks

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Speaker 2: like it's hard going in terms of their cash flow position.

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Speaker 2: For businesses larger than that, they're in a better position,

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Speaker 2: and so that's encouraging, but it's still not uniform across

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Speaker 2: the market.

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Speaker 1: So let's move on to Westpac itself and your earnings.

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Speaker 1: When you're a big bank in Australia, you have incredible momentum.

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Speaker 1: How do you grow earnings when you have so much

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Speaker 1: competition and lead the share price out of it at the moment?

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Speaker 1: And what people are thinking banks, reminders, free healthcare, et cetera,

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Speaker 1: purely your business. How do you grow earnings when you

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Speaker 1: have such a tough market? A lot of people laugh

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Speaker 1: the small and medium sized business market at the moment.

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Speaker 1: What do you do?

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Speaker 2: So that is the exam question that's leveled at me

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Speaker 2: by the board and the owners. We certainly we have

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Speaker 2: some unique advantages at Westpac. One is we have ten

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Speaker 2: million customers and as we look at whether those customers

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Speaker 2: are on how they think of us, only about a

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Speaker 2: third of them at the moment think of us as

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Speaker 2: their main financial institution the MFI measure. And so I've

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Speaker 2: got millions of customers where I'm not doing anything really

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Speaker 2: substantive for them. There's so much more I can do

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Speaker 2: with them. And importantly, it's not an adventurous challenge to

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Speaker 2: and we're not creating new products or new services. It's

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Speaker 2: literally doing what we do very well with an existing

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Speaker 2: cohort of customers. One third of our existing customers recognize

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Speaker 2: us as MFI. I've just got to now replicate that

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Speaker 2: and roll that out across all of my customers. And

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Speaker 2: all of that is the way I grow earnings and

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Speaker 2: how I grow the business, and more importantly, I grow

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Speaker 2: it safely and sustainably, because doing more of what you

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Speaker 2: do well with your existing customers is probably one of

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Speaker 2: the safest ways to grow a business.

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Speaker 1: Okay, but how do you do that? So you invent.

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Speaker 2: So one of the things we need to do and

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Speaker 2: we are doing, is that we are slightly underweight in

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Speaker 2: banker numbers. So I want to say banker numbers, I

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Speaker 2: mean customer facing roles, and so we are actively investing

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Speaker 2: in adding bankers that can and will speak to customers.

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Speaker 2: We have an outstanding feature which is our app, which

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Speaker 2: is sort of number one ranked in terms of features,

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Speaker 2: but there's so many aspects of how our app is

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Speaker 2: currently configured which we can improve which will make that

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Speaker 2: service proposition even more attractive. And then more importantly, what

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Speaker 2: we are going to go after, and it's something that's

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Speaker 2: we're very focused on, is how do we make sure

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Speaker 2: that when we connect with the customer in every interaction,

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Speaker 2: we bring the whole bank and so that we're not

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Speaker 2: sort of just a product centric engagement with the customer.

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Speaker 2: We're thinking about the customer and yes, you've got a

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Speaker 2: mortgage with us, but gee, your transactional account, you could

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Speaker 2: do this with that? Or would you like a credit

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Speaker 2: card or would you like this incremental bank product that

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Speaker 2: I've got available, And we're thinking about the whole of

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Speaker 2: the customer. And if we can do that, that's that

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Speaker 2: is how we will start to capture the advantage, which

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Speaker 2: is I've got ten million customers. I've just got to

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Speaker 2: do more with them.

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Speaker 1: Something you said, they're getting more bankers out there. How

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Speaker 1: does that work in an AI world where apparently we're

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Speaker 1: all going to lose our jobs, well most of us anyway,

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Speaker 1: we're going to lose our jobs due to AI. And

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Speaker 1: if we actually bring that back, a lot of the

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Speaker 1: process roles will go to AI. How do those two

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Speaker 1: gel Well.

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Speaker 2: I think a couple of things. I mean, ninety six

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Speaker 2: percent of what people do with the bank they want

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Speaker 2: to do digitally and online today, and so we need

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Speaker 2: to recognize that's just foundational. It's not a differentiator to

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Speaker 2: have an app or to have an automated process that's

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Speaker 2: actually table stakes, and certainly AI will only amplify that

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Speaker 2: idea year of automated straight through and contribute to that.

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Speaker 2: But what we and what I think is really important,

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Speaker 2: is to think about what AI is and how it

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Speaker 2: should be used, which is a tool, and a tool

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Speaker 2: is only really as good as the person who's been

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Speaker 2: equipped or trained and set up to use that tool.

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Speaker 2: And so what we come back to is that it's

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Speaker 2: about it's a people's game banking today and will in

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Speaker 2: the future ever more so be a people game. And

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Speaker 2: so we've got to get much more organized and much

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Speaker 2: more invested in our people and how they're led and

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Speaker 2: how they're motivated and how they're inspired to deliver. And

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Speaker 2: I feel like that's where we've got to go in

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Speaker 2: terms of delivering that differentiation that puts us in the

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Speaker 2: right place.

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Speaker 1: Well, I have as much to do with a person

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Speaker 1: at Westpac in the future as I did previously, and

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Speaker 1: I am a customer Westpac. I can say that, and

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Speaker 1: what's that interaction going to be like? Like, in a sense,

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Speaker 1: is it more or less important than direct.

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Speaker 2: So where we intend to go is that's for you.

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Speaker 2: It's for you to choose. It's not for me to

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Speaker 2: impose upon you, but for me to provide what you want.

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Speaker 2: And if it's the case that you'd like that human interaction,

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Speaker 2: I need to make sure I can do that and

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Speaker 2: can do that in a way that is safe and

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Speaker 2: responsible in services your needs. So that's the ambition or

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Speaker 2: the challenge for us is how do I design and

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Speaker 2: set up that interaction between our digital offering, our virtual

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Speaker 2: offering which is call center when you call in, and

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Speaker 2: the physical offering and how do I get that balance right?

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Speaker 2: And for different customers, they will all quite different things,

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Speaker 2: and I've got to be good enough and we as

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Speaker 2: a bank, I've got to be good enough to be

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Speaker 2: able to do what they want as opposed to doing

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Speaker 2: what I want. And so that's what we're working on.

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Speaker 1: We're going to pause there and take a quick break

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Speaker 1: back in a moment. This is fear and greed at

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Speaker 1: one on one with Westpac CEO Anthony Miller. My bank

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Speaker 1: analyst friends would be very upset with me if I

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Speaker 1: didn't ask about cost control, because banking is about cost

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Speaker 1: control to some extent, particularly when growth is harder to

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Speaker 1: come by. What's Westpac doing there?

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Speaker 2: So cost control is for any company, any executive. It's

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Speaker 2: literally the job description. And one of the challenges at Westpac,

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Speaker 2: and you know, I see a number of the executives

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Speaker 2: in the room. I think in the past, the way

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Speaker 2: we thought about cost control was all right, we need

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Speaker 2: to cut costs and hit our numbers for the half.

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Speaker 2: And so what would end up happening People would stop something,

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Speaker 2: They would just immediately cancel something, and all they were

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Speaker 2: doing was deferring something so that you hit your number

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Speaker 2: for the half. What we're trying to do and the

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Speaker 2: way we're going after it at the bank now and

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Speaker 2: as we go forward is well, first and foremost, let's

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Speaker 2: look at the process and the work and the activity

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Speaker 2: we're undertaking, and let's get that to the best possible

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Speaker 2: state it could be. Get that as streamlined and as

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Speaker 2: efficient as it should be, making sure we meet our

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Speaker 2: regulatory obligations, and we do it for the customer, and

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Speaker 2: the costs fall out off the back of that. And

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Speaker 2: so the focus is how do I organize processes, how

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Speaker 2: do we make sure the way we do things is streamlined,

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Speaker 2: and then the cost will follow. And then of course

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Speaker 2: what you then find is're very clear about well, it's

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Speaker 2: very clear that I have to spend that money to

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Speaker 2: do that process now that I've optimized it as I have,

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Speaker 2: and then you need to be very honest with yourself.

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Speaker 2: But the return I get with that product or service

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Speaker 2: I provide now that I've optimized it, if it doesn't

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Speaker 2: make the return I needed to make for the shareholder,

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Speaker 2: I'll need to be honest. Should I stay in that,

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Speaker 2: should I exit that? And that's what we will be

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Speaker 2: focused on is making sure we have the best processes

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Speaker 2: streamlined and optimized as they need to be, make sure

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Speaker 2: we always deliver for the customer in a safe, sustainable way.

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Speaker 2: And then, of course, if the return generated is not

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Speaker 2: acceptable over the long term, then we will need to

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Speaker 2: make other decisions.

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Speaker 1: Okay, let's go back to artificial intelligence broadly. How do

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Speaker 1: you think about it and how do you think about

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Speaker 1: it for the bank?

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Speaker 2: So, the hype around artificial intelligence is quite amazing, and

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Speaker 2: I joke often that if I had a dollar for

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Speaker 2: every management consultant's pitch, I could retire. And it is amazing.

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Speaker 2: There is no doubt that the hype is excessive, but

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Speaker 2: its potential and what it can do is remarkable, and

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Speaker 2: so we're very much focused on how are we using

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Speaker 2: it now. We have been using versions of artificial intelligence

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Speaker 2: for a long time machine learning, data analytics, data determined decisions, etc.

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Speaker 2: And then we've had AI. Now we've got generative AI,

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Speaker 2: and then we've got the edgentic version of that. And

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Speaker 2: so the implementation and use of AI is something that's

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Speaker 2: part of the company and now we want to sort

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Speaker 2: of go further. And so the way we're approaching it is,

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Speaker 2: first of all, I want it to be something that

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Speaker 2: everyone recognizes is a priority for the company. So therefore

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Speaker 2: I've said our data data analytics AI role. I've been

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Speaker 2: able to hire the best in the market to take

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Speaker 2: on that role. He will report to me and that'll

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Speaker 2: be partly and this is the first time that role

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Speaker 2: does report to achieve executive Albeit one of our peers

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Speaker 2: copied ust recently and that's a signal to the company

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Speaker 2: about how important this is. The second thing is is that,

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Speaker 2: as I said earlier, it's a tool, and so it's

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Speaker 2: no good just saying, oh, we're going to put in AI.

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Speaker 2: What we need to do is make sure that everyone

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Speaker 2: is equipped with trained, inspired, motivated and led to use

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Speaker 2: this tool to improve outcomes. And I think the way

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Speaker 2: we are going to go after the AI is that

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Speaker 2: it works best where you have a superb process. You've

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Speaker 2: got to get your processes right, You've got to have

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Speaker 2: your data in the right place, organized in the right way,

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Speaker 2: and then you've got to have the team organized and

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Speaker 2: inspired to take that tool and go faster and do

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Speaker 2: more and do better. And therefore, what we're going to

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Speaker 2: do is very much focus on what areas can we achieve,

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Speaker 2: what areas should we prioritize, Prove it to ourselves, prove

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Speaker 2: it to our people, and then start to roll it

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Speaker 2: out more broadly across the company.

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Speaker 1: You're talking about the opportunities. Do you see it as

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Speaker 1: a threat at all?

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Speaker 2: Yes, I do. I do think that the capacity or

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Speaker 2: the ability it gives other entities to be able to

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Speaker 2: do banking, which is a complicated, highly regulated industry, means

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Speaker 2: there is a risk that others might be able to

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Speaker 2: solve all of the regulatory requirements very cleanly, very simply,

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Speaker 2: with the right agentic program and capability, they and thus

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Speaker 2: they could enter the industry and start to dis intermediate us.

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Speaker 2: But that threat has been in front of us for

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Speaker 2: a long time that you know, you've got a very well,

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Speaker 2: very clean, very simple fintech targeting a particular segment of

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Speaker 2: the or what we offer to customers, or we've got

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Speaker 2: challenges that come in and just simply have one product

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Speaker 2: and one offering and they just go in a very

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Speaker 2: targeted way. So we've been battling and competing against that

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Speaker 2: for a long time. This is another version of that.

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Speaker 1: Okay, let's move to some of the more general issues.

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Speaker 1: The climate change all of a sudden is back in

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Speaker 1: the news, has been for the last three or four

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Speaker 1: days since Barnaby Joy has introduced a private member's bill,

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Speaker 1: obviously a big issue for the opposition and that's the Libs.

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Speaker 1: At the same time, we have the UN Chief Scientists

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Speaker 1: coming and telling Anthony Alberanezi we need to do a

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Speaker 1: lot more. Where's Westpac up to on your this year

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Speaker 1: and next year of Scape Oneescape too at net zero

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Speaker 1: and where do you think we should go? Because as

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Speaker 1: Bowen said yesterday, getting there is a lot harder than

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Speaker 1: saying it.

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Speaker 2: Absolutely. In terms of Westpac Scope one Scope too, we

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Speaker 2: set a commitment to reduce from a baseline of twenty

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Speaker 2: twenty one by seventy four percent by twenty thirty, so

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Speaker 2: we are well on track. In fact, we're ahead of that,

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Speaker 2: and so we're confident about delivering on that commitment, and

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Speaker 2: it's a commitment that is important and is in front

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Speaker 2: of everyone in the company in terms of how we're

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Speaker 2: organized and what we're going after. The great problem or

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Speaker 2: issue that's in front of us is the transition currently

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Speaker 2: and has for far too long been sort of thought

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Speaker 2: of as this imposition on the country, this impost upon us, Oh,

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Speaker 2: we have to transition, and therefore we're going to have

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Speaker 2: to go and do this investment, Whereas really I think

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Speaker 2: and how we're thinking about it and what we have,

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Speaker 2: for example in our productivity submission, is that this is

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Speaker 2: one of those fantastic moments for this country to transition.

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Speaker 2: We are one of those few countries in the world

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Speaker 2: that has that wonderful combination of we have a lot

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Speaker 2: of gas, and gas has a role in this transition.

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Speaker 2: Don't ignore that it has a role to play. We

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Speaker 2: have a wonderful, large landscape where there's a lot of

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Speaker 2: sun and there's a lot of renewable power available to us,

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Speaker 2: and so we're in a very privileged position. We could

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Speaker 2: and should be able to realize a goal of having

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Speaker 2: the cheapest, most reliable, most attractive from an emission standard

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Speaker 2: energy generation, storage and distribution of any country in the world.

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Speaker 2: That should be ambition. And then with that ambition the

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Speaker 2: opportunities it creates, the bill, the investment, the engineering, the financing, etc.

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Speaker 2: Just means it's a huge amount for the country to

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Speaker 2: go after. Importantly, if you have the cheapep it's most reliable,

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Speaker 2: most emissions responsible power capability, then all of a sudden,

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Speaker 2: things like, well, is that where I should put my

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Speaker 2: data center? As global companies think about, I'll have a

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Speaker 2: data center in my home jurisdiction. I need to have

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Speaker 2: a redundant data capability seeing in a safe first world

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Speaker 2: other jurisdiction, where can I go Look at Australia. Look

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Speaker 2: at how cheap, reliable and consistent and emissions responsible its

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Speaker 2: generation is. All of a sudden we become a destination

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Speaker 2: for many and we saw a little bit of that,

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Speaker 2: I think in the context of Amazon and the work

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Speaker 2: that the Prime Minister did there. So we've got to

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Speaker 2: turn this transition from woe mee, we have to transition

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Speaker 2: to it is an exceptional opportunity for this country to

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Speaker 2: differentiate itself and move forward and not become and not

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Speaker 2: be just a commodities lucky country, but a self determined

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Speaker 2: lucky country.

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Speaker 1: So should that the government go harder, should it set

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Speaker 1: more aggressive targets for emissions abatement?

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Speaker 2: I think that's something that is potentially available. But I

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Speaker 2: think why don't we go a little easier on ourselves

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Speaker 2: for the moment, which is, let's get ourselves organized as

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Speaker 2: we submit, as we saw in the submission on productivity,

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00:24:18,080 --> 00:24:20,119
Speaker 2: what don't we make sure that our process is and

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Speaker 2: the way we are pursuing that goal, that we're meeting

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Speaker 2: a certain standard of excellence now. And if we can

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Speaker 2: deliver on that excellence now, then we've earnt the right

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Speaker 2: to say, let's have an even bolder or more aggressive

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Speaker 2: ambition in the future. So I feel like that's potentially

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Speaker 2: how we might approach it. But why don't we earn

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Speaker 2: the right to do that by just delivering on what

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Speaker 2: we've said? And as I say, there's so much within

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Speaker 2: our reach to help us get after it now that

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Speaker 2: you know, I would love the country to be more

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Speaker 2: excited about it as a great opportunity rather than some

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Speaker 2: great impost or challenge.

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Speaker 1: That's the first half of my interview with Westpac's CEO,

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Speaker 1: Anthony Miller. Anthony was proudly hosted by the Trans Tasman

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00:25:05,920 --> 00:25:08,720
Speaker 1: Business Circle for thirty three years. The circles been the

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00:25:08,720 --> 00:25:12,679
Speaker 1: region's leading stakeholder engagement platform, connecting senior leaders across business,

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00:25:12,880 --> 00:25:17,119
Speaker 1: government and community in Australia, New Zealand and Singapore and beyond.

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00:25:17,119 --> 00:25:19,600
Speaker 1: With over two hundred and fifty high impact engagements annually,

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00:25:19,840 --> 00:25:24,080
Speaker 1: the Circle shaped strategic conversation strengthens public private collaboration and

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Speaker 1: deepens cross border partnerships. Privately owned and proudly independent, the

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Speaker 1: Circle is powered by a team of senior professionals dedicated

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Speaker 1: to delivering meaningful, high trust experiences. Join me again next

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Speaker 1: week for the second half of this interview, including Anthony

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00:25:37,280 --> 00:25:39,640
Speaker 1: Miller's take from what needs to be done to fix

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00:25:39,680 --> 00:25:42,440
Speaker 1: the housing crisis. Remember to hit follow on the podcast

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Speaker 1: is Fear and Greed one on one