Mr Taylor will join IAG from Westpac Banking Corporation, where he is General Manager, Enterprise Risk, responsible for group-wide aspects of risk management, assurance and governance.

He previously spent 11 years in risk-focused roles at Commonwealth Bank including as EGM & Chief Operational Risk Officer & Chief Risk Officer Group Business Services Australia; EGM & Chief Risk Officer, Wealth Management Australia; and General Manager & Chief Risk Officer, CommInsure.

Mr Hawkins said he was pleased to have attracted a candidate of Mr Taylor’s calibre.

“Peter has more than 30 years of corporate experience including several enterprise risk roles with large financial services companies, with 10 years working with regulators, Boards and management. The combination of his skills with his passion for risk means he is extremely well equipped to take on this hugely important role for IAG,” he said.

Mr Taylor will join IAG in mid-2022, and his appointment is subject to the completion of regulatory approvals. Until then, Tim Plant, Chief Insurance and Strategy Officer will take on the additional role of Acting Group CRO.

IAG’s former CRO David Watts resigned in September and will leave IAG on 11 February 2022.

In a further change to the Group Leadership Team, Craig Olsen, Group Executive Strategic Projects, has advised he will leave IAG on 28 February.

“I am grateful for the significant contribution both David and Craig have made to IAG and the personal support they have provided to me. I wish them both well as they embark on the next stages of their careers,” Mr Hawkins said.