Westpac has appointed Alexandra Holcomb as Chief Risk Officer following the retirement of Greg Targett.

Mr Targett has held the role for five years after working in the same position at St George before its merger with Westpac.

Ms Holcomb joined Westpac in 1996 from management consulting firm Booz Allen Hamilton International.

She has worked as GM global transaction services since 2005, with responsibilities including managing Westpac payments, trade products and related infrastructure.

“Having started her career in credit risk, Ms Holcomb’s subsequent roles have given her deep insight into broader areas of compliance, operational and technology risk,” CEO Gail Kelly said.

“This, coupled with her expertise both domestically and internationally across strategy and management, ideally positions her to lead the group’s strong risk functions.”

Ms Holcomb takes up her new role on August 1.