Westpac has named the head of Deutsche Bank’s local operations as the new chief executive of its institutional business.

Anthony Miller, who has been chief executive of the Deutsche’s Australia and New Zealand operations since 2017, will join Westpac later in the year.

Mr Miller is also co-head of the German bank’s investment arm for Asia Pacific and has previously worked for Goldman Sachs in Hong Kong.

Westpac chief executive Peter King said Mr Miller had global experience in institutional banking would bring broader risk management experience to the team.

Mr Miller will replace Lyn Cobley, who left the lender in May along with other top executives, amid charges that Westpac had enabled 23 million payments in breach of anti-money laundering laws.