SYDNEY, AUSTRALIA: Westpac Group announced the appointment of Yianna Papanikolaou to the newly created position of Chief Transformation Officer. Ms Papanikolaou will sit on the Group’s Executive Team and report to CEO, Peter King. She will have responsibility for major…
AUCKLAND, NEW ZEALAND: Westpac Group has announced changes to simplify the bank, improve accountability and reduce costs. In 2021, Westpac established a 3-year plan to reduce its cost base to $8 billion by 2024. We are now implementing a key part of that…
AUCKLAND: Westpac Group will sell Westpac Lenders Mortgage Insurance Limited (WLMI) to Arch Capital Group (Arch) and enter into a 10-year exclusive supply agreement forArch to provide Lenders Mortgage Insurance (LMI) to the Group. The sale price will be at…
SYDNEY: Westpac Group has announced it will be selling its 10.7% stake in Zip Co Limited by way of a fully underwritten book build to institutional investors domiciled in Australia and other relevant jurisdictions. The offer price for the shares…
SYDNEY: Westpac Banking Corporation (Westpac Group) has decided to exit operations in Beijing, Shanghai, Hong Kong, Mumbai, and Jakarta, a news release said. Following a comprehensive review of its Asia, Europe and US businesses, Westpac Banking Corporation decided to consolidate…
SYDNEY: Westpac Group has announced the appointment of Chris de Bruin as Chief Executive of its Consumer division. Mr de Bruin has more than 24 years’ experience in the financial services industry globally, including at large banks and challenger brands….
SYDNEY: Westpac Group has entered into an agreement for the sale of its Vendor Finance business to Angle Finance, a portfolio company of Cerberus Capital Management, L.P. Vendor Finance supports third parties to fund small ticket equipment finance loans to…