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Westpac Banking Corporation (ASX:WBC) has unveiled a new management structure and the creation of two new divisions.
The bank’s Australian financial services division will include its retail and business Banking, St George Bank, BT Financial Group and banking products and risk management, led by Brian Hartzer.
The group services division will include technology, banking operations, property services and legal, led by John Arthur.
CEO Gail Kelly says the structural changes are a key element of the next phase of the bank’s goal to become Australia's leading financial services organisation.
Westpac increased its net profit by 10 per cent to $7.1 billion in fiscal 2011.
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