Westpac welcomes the start of data sharing through Open Banking

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Westpac has welcomed the launch of the next phase of Open Banking which allows personal banking customers to share certain data with trusted third parties. Starting yesterday, eligible Westpac customers can share their credit and debit card data, as well as deposit and transaction account data, with accredited third parties. The type of data available […]

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Westpac releases findings into AUSTRAC Statement of Claim issues

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Westpac has announced the results of its investigation into the Anti-Money Laundering and CounterTerrorism Financing (AML/CTF) compliance issues, as well as releasing the Advisory Panel Report into Board Governance of AML/CTF Obligations and the Promontory Assurance letter on management’s accountability review. Westpac Chairman Mr John McFarlane said, “In line with the Board’s commitment at the […]

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Lyn Cobley retires from Westpac

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Westpac has announced that Lyn Cobley, Chief Executive of Westpac Institutional Bank, is retiring from the bank. Westpac CEO, Peter King, thanked Ms Cobley for her contribution in leading the Institutional Bank over the last five years. “Lyn navigated institutional banking during a period of intense global competitive pressures and structural changes across these markets […]

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Westpac executive changes

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Westpac has announced that David Lindberg, Chief Executive, Consumer and Craig Bright, Chief Information Officer, are leaving Westpac to take up new roles overseas. An international search has commenced for their replacements. Westpac also announced the appointment of Les Vance to a new role as Group Executive, Financial Crime, Compliance and Conduct. Mr Vance will […]

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Peter King appointed Westpac CEO

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 Westpac Chairman Mr John McFarlane has announced the appointment of Mr Peter King as Chief Executive Officer. Mr McFarlane said, in moments of global stress and uncertainty, management stability and strength are vital. “I believe we need a Chief Executive in place now, not later, and with full, rather than acting authority. On my recommendation, […]

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Westpac extends COVID-19 support for business

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Westpac is pleased to confirm its support of the Australian Banking Association’s (ABA) extended Business Support Package, announced yesterday. Westpac Chief Executive Business Guil Lima said: “This is about offering immediate and practical assistance to help more of our customers in need.” Westpac’s expanded Business Relief Package includes extending our existing offer to defer principal […]

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Westpac announces support for businesses affected by Coronavirus

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Westpac has announced support measures for business customers financially affected by the outbreak of Coronavirus. The measures will be available to eligible customers immediately and will remain in place for customers financially affected by the Coronavirus outbreak for an initial period of three months. Guil Lima, Chief Executive, Business Division said the impacts of the […]

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Westpac announces John McFarlane as incoming Chairman

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Westpac Group has announced the appointment of Mr John McFarlane to the Westpac Board as Non-Executive Director and Chairman-Elect, succeeding Lindsay Maxsted on 2 April 2020. Mr McFarlane will commence his role as Non-Executive Director in February, subject to regulatory approvals. Mr Maxsted said, “Mr McFarlane is not only well known in Australia and New […]

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Westpac completes Share Purchase Plan raising approximately $770 million

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Westpac has announced the completion of its Share Purchase Plan (“SPP”) following the closing of the SPP on 2 December 2019. The SPP raised approximately $770 million and approximately 31.9 million new shares in Westpac (“SPP Shares”) will be issued to successful applicants on 11 December 2019. In accordance with the SPP Terms and Conditions, […]

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Westpac announces new Acting Group Executive Enterprise Services

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Westpac Group has announced that Alastair Welsh has been appointed Acting Group Executive Enterprise Services while Gary Thursby acts in the role of Chief Financial Officer. Incoming Acting Chief Executive Officer Peter King said: “Al is an experienced member of the senior leadership team and has provided more than 25 years of service to the […]

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