A member of Westpac Institutional Bank’s Executive Team, Ms Slade will oversee global transactional services for Westpac’s corporate and institutional customers. She will also manage all payments networks and corporate cash requirements for corporate customers.

Leading the GTS team, she will be responsible for developing and implementing the growth strategy for that business, focusing on key growth markets and servicing Westpac’s customers.

Ms Slade has close to 20 years’ experience in financial services. She first joined Westpac in 1999 and has held key and diverse roles during her 15
years with the Group including Head of Group Strategy, Head of International Products for the institutional bank, Head of Group Diversity and Flexibility and most recently General Manager of Transformation and

Delivery where she has played a critical role in driving critical change across key areas of the Group.

Rob Whitfield, Chief Executive, Westpac Institutional Bank said: “I am delighted to have Rachel join the team as General Manager, GTS. She brings with her a deep and broad strategic capability which will help to grow Westpac’s leadership position as the number one transactional bank
in Australia.

“This internal promotion continues to demonstrate the depth of talent at Westpac and our ability to continue to identify and foster high potential leaders.” Rob Whitfield said.

Ms Slade will commence in early September.

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Westpac releases China Consumer Sentiment Survey

Westpac Institutional Bank (Westpac) has partnered with MNI Indicators to co-produce an independent monthly report on the Chinese consumer: The Westpac MNI China Consumer Sentiment Survey.

The key headline indicator from the survey is the Westpac MNI China Consumer Sentiment Indicator (Westpac MNI China CSI). MNI Indicators is part of MNI, a subsidiary of one of the world’s largest exchange organisations, Deutsche Börse AG.

To be launched on Wednesday, 28 May 2014, the Westpac MNI China CSI aims to become the primary reference point for key decision makers around the world seeking to better understand the current and future state of the Chinese economy, with special reference to the household sector.

Formally known as the MNI China Consumer Indicator, it has been calculated since 2007 and is disseminated by MNI Indicators on a subscription basis. Following the partnership with Westpac, the Westpac MNI China CSI will be available on a monthly basis through Westpac’s global research portal WIB IQ or by subscription from MNI Indicators. Westpac’s expert interpretation and analysis will significantly enhance global access to this information given the bank’s authority in tracking consumer sentiment in Australia for over 40 years and in-depth analysis of the Chinese economy.

The Westpac MNI China CSI also sits alongside MNI Indicators’ range of business and consumer indicators in China, India, Russia and the United States.

Westpac’s Senior International Economist Huw McKay said the Chinese household sector is already an important factor in the determination of global growth, and that importance will increase over time.

“The Westpac MNI China CSI will take the pulse of China’s consumer mega market on a monthly basis thereby gauging one of the most critical rhythms of the global economy in a timely fashion.  This survey will complement the official data, with an easy to interpret monthly report underpinned by a pre-existing and well understood research methodology,” McKay said.

Chief Economist of MNI Indicators Philip Uglow said, “We’re delighted that our co-operation with Westpac means that this deep mine of data on the Chinese consumer will now reach an even larger audience.”

“As well as key top level data to show how the Chinese economy is performing, our database of more than a hundred thousand data points over the past seven years allows professionals to analyse all aspects of Chinese households by major city, region, income, gender and age. It provides unique insights into the minds of Chinese consumers on a range of topics, including personal finances, spending, housing, autos, equity markets and employment,” Uglow added.

Westpac’s Head of Greater China Andrew Whitford said, “While there are a number of closely watched business surveys in China, this will be the only independent monthly insight into the psyche of the Chinese household sector.”

“Westpac’s expertise in this field makes us well placed to cover consumer sentiment in China and delivers on our strategy of connecting our global customers to the flow of trade, capital, investment and people through the China Corridor,” Whitford said.

The Westpac MNI China CSI is based on the methodology developed by the University of Michigan’s U.S. Consumer Sentiment Index, which has been in use since 1946. The Westpac-Melbourne Institute Australian Consumer Sentiment Survey, founded in 1973, was also modelled on the University of Michigan survey.

The use of a pre-existing and highly regarded framework for the survey should give confidence to users that the data that they have in their hands is a robust tool for both tracking the state of the Chinese household economy and the facilitation of international comparisons. The sample size for the Westpac MNI China Consumer Sentiment Survey is larger relative to the sample population that is used in the U.S., which leads to a smaller sampling error (3.5% versus 5%).

The Westpac MNI China Consumer Sentiment Survey will be launched on Wednesday, 28 May 2014. After the inaugural release, the Survey findings will be published on the final Wednesday of each calendar month at 09:45 Beijing time.

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Ms Wanless will join Westpac in January 2014, building on a distinguished career in banking and financial services most recently as Country Manager of Bank of America NA Australia Branch (BAML). In a career spanning 24 years, Ms Wanless has held senior leadership positions at Bank of America Merrill Lynch, HSBC Bank and Commonwealth Bank.

In her most recent role, Ms Wanless was responsible for leading the Corporate Banking business involving coverage of Australian corporates, global MNCs and the Financial Institutions Group. Ms Wanless has also been co-Chair of BAML’s Asia Pacific Diversity and Inclusion Council and Chair of the Australian Capital Committee. Ms Wanless received the Insto Advancement of Women in Banking and Finance award for 2010.

Joining the CIB Executive Team, Ms Wanless will report to Andrew McDonald, General Manager, Corporate & Institutional Banking, WIB and will be responsible for delivering the institutional bank’s customer engagement strategies across: bank and non bank financial institutions, insurance, government, education, Not-For-Profits, health care and diversified customer portfolios.

General Manager, Corporate & Institutional Banking, WIB Andrew McDonald said, “This is a significant role overseeing one of the institutional bank’s largest market segments, supported by a team of approximately 55 people globally.”

“We have earned a position as the lead domestic relationship bank[1] and are looking to build on this strength through our disciplined approach to account planning and developing deep and enduring partnerships with all of our customers globally.”

“Janie’s extensive experience and impressive leadership track record makes her a strong addition to our leadership team that has successfully driven this strategy and culture of high performance,” he said.

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Pippa Crawford

Westpac Institutional Bank (WIB) today announced the appointment of Pippa Crawford to the dual roles of Head of WIB Victoria and Head of Energy and Resources, Corporate & Institutional Banking (CIB).

With a career at Royal Bank of Scotland (RBS) in London spanning 15 years, Ms Crawford has extensive experience across global capital markets origination, sales, syndication and execution. Her most recent role was as Head of Loan Capital Markets, managing the portfolio and team across Western Europe.

A member of RBS’ Advanced Leadership Programme, Ms Crawford was one of Financial News’ Top 40 under 40 Investment Bankers in 2013 as well as being nominated for Women in Banking and Finance Award in 2012.

Joining the CIB Executive Team, Ms Crawford will report to Andrew McDonald, General Manager, Corporate & Institutional Banking and manage the ongoing delivery of the institutional bank’s customer engagement strategies to significantly grow its presence in Victoria.

General Manager, Corporate & Institutional Banking, Andrew McDonald said, “Our executive team in Victoria have led a successful strategy, tilting the business towards our targeted growth sectors.”

“Pippa’s extensive experience as a high profile originator and proven ability to develop client led growth strategies will leverage this strength as we continue to build out our strategy.”

“Her strong leadership skills and track record in building a global culture of high achievement at RBS plays directly into the institutional bank’s position as we build on sustained growth and profitability,” he said.

At RBS, Ms Crawford was instrumental in many key transactions with global customers. High profile transactions include integrating the post-merger funding strategy between Xstrata and Glencore in 2012 and as defence advisor for Rio Tinto against the BHP Billiton bid in 2008/2009.

She was the Co-Chair of the Diversity Network and heavily involved in graduate and diversity initiatives which have had a great deal of attention in banking globally and is a core area of focus at Westpac.

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Westpac’s new product offers secure retirement income.

In response to calls from financial advisers seeking alternatives to help their clients achieve retirement goals, Westpac Institutional Bank (Westpac) has launched its own annuity-styled product with a long term, guaranteed income stream.

The Westpac Annuity Deposit qualifies for the Government Guarantee provided under the Financial Claims Scheme¹, adding a new level of security for clients investing for retirement.

The off-platform solution is designed for advisers to meet a client-lead demand for lower risk, flexible products that provide a known and secure income at a competitive rate.

Westpac Head of Capital Market Solutions, David Van Ryn said “in simple terms, investors in the Westpac Annuity Deposit are buying a secure and guaranteed income stream.”

“Investors securing retirement income streams rely on their selected provider to continue to meet their obligations over the long haul.”

“Westpac is one of the largest deposit taking institutions in Australia with a history in banking approaching 200 years. This history, combined with access to the Government Guarantee in most cases¹, should provide investors with a high level of security and peace of mind when building a retirement income strategy,” he said.

A regular income stream is generated from the combination of the interest yield on the Westpac Annuity Deposit and the return of their principal, for a period up to 15 years.

“Investors choose a term of up to 15 years over which they want to receive income payments.  They also choose how frequently they want to receive the payments, how they want their principal repaid and finally whether they want the income payments to be indexed to inflation,” Mr Van Ryn said.

“Investors can select to invest a minimum of $50,000 and provide Westpac with the term, income frequency, indexation required and style of principal repayment they desire.  We can then calculate the income stream that this investment will secure,” he said.

Investors are provided an earnings rate to enable them to make a comparison with alternative products.

Westpac Annuity Deposits can be accessed through your Westpac Banker or directly through Westpac’s Investment and Deposit Desk on 1300 132 764.

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1. The Australian Government’s Financial Claims Scheme is designed to protect deposit holders in the event of Westpac’s insolvency.  Payments under the Scheme are subject to a $250,000 limit for each depositor for eligible deposits held with companies in the Westpac Group in aggregate, and remain subject to Ministerial discretion.

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