After ten years in the Westpac boardroom a prominent businesswoman will retire from Westpac.

Elizabeth Bryan had made a significant contribution to the banks success since joining the board in 2006, Westpac Chairman Lindsay Maxsted said.

Bryan, who is also chairman of Virgin Australia and deputy chairman of Insurance Australia Group, will step down after Westpac's annual general meeting on December 9.

Deutsche Asset Management

Most recently she served as Chairman of the Board Risk & Compliance Committee and as a member of the Board Nominations and Remuneration Committees.

Prior to becoming a professional director she served for six years as Managing Director of Deutsche Asset Management and its predecessor organisation, NSW State Superannuation Investment and Management Corporation.