Westpac is deeply saddened by the passing of William ‘Bill’ Evans, whose contribution to the bank, the economics profession and the wider Australian community leaves an enduring legacy. 

 

For more than three decades, Evans helped Australians make sense of a changing world.

 

As Westpac's former Chief Economist, he guided customers, businesses, policymakers and colleagues through recessions, booms, market shocks and global crises. 

 

Westpac CEO Anthony Miller - who worked alongside Evans - described him as a "once-in-a-generation talent" and one of Australia's most respected and influential economists. 

 

"He knew everything about the economy, but he would always explain things in a way that everyone could understand," Miller said. "That's a rare gift."

 

Evans joined Westpac as Chief Economist in 1991. At the time, the country was navigating a fraught economic environment, in the thick of what later became known as "the recession we had to have". 

 

Undeterred, he embraced the challenge, drawing on experience gained at the Reserve Bank of Australia and in financial markets. What followed was an extraordinary career spanning more than 30 years at Westpac.

 

Over that time, Evans earned a reputation as one of Australia's most respected economists and market commentators. His views on interest rates, economic policy and financial markets were closely watched across the country. 

 

A trusted interpreter of uncertainty, his forecasts earned a near-mythical status in financial markets. Time and again, he was prepared to back his analysis when others disagreed.

 

Yet Evans’ influence extended well beyond markets. Through decades of economic upheaval, he helped governments, journalists and households understand not only what was happening, but what it meant for their businesses, finances and futures.

 

His reputation rested on an uncanny ability to see risks and turning points before they entered the mainstream conversation. 

 

From warning of vulnerabilities during the Asian Financial Crisis in 1997 and excesses in the US housing market before the GFC, perhaps Evans' most famous call was in 2011, when he was the first economist to accurately predict an RBA easing cycle. 

 

“Myself and my team said that we thought rates would actually fall by 100 basis points,” he said of what he regarded as his best forecast. “And that’s what happened. It was a fairly interesting time; consensus said that they [interest rates] were actually going higher.”

 

Reflecting on his approach, Evans once observed that sometimes "you have to say what you think the right policy is rather than what you think is going to go around the table". 

 

Former Westpac treasurer Curt Zuber once described Evans as a "remarkable economist who can relate to the titans of business... while relating to the battler in the bush over a cold beer or a glass of wine,” alluding to Evans’ rare, renowned trifecta of intellectual rigour, warmth and humility. 

 

In 2023, when Evans announced he would step aside after more than three decades as Chief Economist, then Westpac CEO Peter King reflected on the impact and respect he had earned among both financial markets and everyday Australians.

 

"Bill has built a legacy of trust and a record of service that is unmatched," King said. "His generosity and ability to explain the economy in clear and simple terms has meant that Australians from all walks of life have benefited from his considerable knowledge and insight."

 

Looking back on his career, Evans once described his life in economics as "a great ride". For Westpac, for Australian economics and for the many people whose thinking he shaped, it was far more than that.

 

As Miller reflected, "After every conversation [with Evans], you would walk away feeling smarter". Few epitaphs capture a life's work more perfectly. 

 

Evans passed away on 28 July 2026, on his 76th birthday. He is survived by wife Evelyn, son Robert, sister Helen and his grandchildren, to whom Westpac extends its deepest condolences. 

 

In a statement, his family said, “He will be remembered as a force - a kind and thoughtful man who was at the centre of every conversation and lit up every room.”