IAG taps Westpac risk veteran to fill shoes of departing CRO Watts

Insurance Australia Group (IAG) tapped a veteran enterprise risk manager from Westpac Banking Corporation to succeed outgoing chief risk officer David Watts, who announced his retirement earlier this year.

Peter Taylor (pictured) will step into the role in mid-2022, pending regulatory approvals, after Watts' resignation takes effect in mid-February. Tim Plant, chief insurance and strategy officer, will span the gap.

“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,” said Nick Hawkins, IAG managing director and CEO.

Taylor last acted as general manager, Enterprise Risk, responsible for group-wide aspects of risk management, assurance and governance at Westpac. He spent the prior 11 years in risk-focused roles at Commonwealth Bank including as EGM & chief operational risk officer.

Another departure is pending: Craig Olsen, group executive strategic projects, has advised he will leave IAG on 28 February.

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