TREASURER Joe Hockey paid tribute to retiring Westpac chief executive Gail Kelly, after she announced her departure on Thursday.
Ms Kelly announced she would leave the bank after seven years at the helm, during a tumultuous time in global finance.
In her final year as chief executive, Ms Kelly earned a whopping $12 million for her efforts.
After her announcement, Mr Hockey told reporters she was a great leader for women in Australia, and all finance leaders, and hoped she would "continue to serve the nation" in some capacity after she leaves the bank.
Ms Kelly will leave the bank in February next year, to be succeeded by current chief executive of the bank's Australian financial services arm, Brian Hartzer.
- APN NEWSDESK