(Adds details on restructuring and industry background)
July 19 (Reuters) - Westpac Banking Corp (WBC) on Wednesday said it would split its consumer and business banking business into two, with each having its own CEO, effective Aug. 1.
The bank said Chris de Bruin, currently head of the combined unit, will leave and named Jason Yetton as CEO of the consumer business and Anthony Miller as CEO of the business and wealth division.
Westpac also promoted Nell Hutton to head its institutional bank unit.
These changes come at a time when Australia's biggest banks are reeling under the pressures of increased interest rates, which have contributed to slowing credit growth.
The Reserve Bank of Australia has raised interest rates by a whopping 400 basis points in just 14 months. (([email protected]; Twitter: https://twitter.com/damnit_saladin;))
News: WBC UPDATE 1-Australia's Westpac splits consumer and business banking unit into two
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$34.29 |
Change
0.870(2.60%) |
Mkt cap ! $117.3B | |||
| Open | High | Low | Value | Volume |
| $33.63 | $34.48 | $33.56 | $227.3M | 6.642M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 336 | $34.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.30 | 33432 | 1 |
View Market Depth
| Last trade - 16.13pm 24/06/2025 (20 minute delay) ? |
| WBC (ASX) Chart |