Westpac Banking Corp. has appointed Alexandra Holcomb as chief risk officer.

Holcomb assumes this role from Greg Targett, who retired after a 35 year career in banking. Targett served as Westpac's chief risk officer for five years.

Prior to her promotion, Holcomb served as general manager of global transactional services, responsible for transactional banking and trade sales and services for institutional and corporate customers, as well as managing Westpac's payments, trade products and related infrastructure. Additionally, she lead the company's industry payments and trade regulatory agenda.

Holcomb joined Westpac in 1996 from management consulting firm Booz Allen & Hamilton, where she focused on international credit. She has held various executive positions at Westpac Institutional Bank, including in group strategy and mergers and acquisitions.