Westpac Announces Management Overhaul
Further Reading
Westpac Banking Corporation (ASX:WBC) has announced the creation of two new divisions for the company as they plan for a management overhaul. The company has established the Australian Financial Services (AFS) division that encompasses units including Westpac Retail and Business banking, St. George Banking and BT Financial Group. The Group Services division, on the other hand, encompasses technology, banking operations, property services and legal.
As Westpac announces the resignation of Group Executive Rob Coombe, who will be replaced by Jason Yetton,and John Arthur's role as the leader of the Group Services division, the banking group welcomes ex-ANZ Senior Executive Brian Hartzer to lead the AFS division.
Westpac Chief Executive Gail Kelly said that she was delighted to welcome Hartzer to the banking group. “He is an outstanding financial services executive who has a significant track record of achievement in Australia and overseas. I look forward to him bringing his expertise and experience to the group,” Kelly said.
The Chief Executive said that the overhaul was a key element in the Westpac's drive to becaume Australia's leading financial services organisation. “We now have a strong platform to drive the next phase of our strategy,” she said.
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