Westpac’s CEO Gail Kelly has announced a new orgainsational structure for the banking group, aimed at accelerating the next phase of its growth strategy.

 

Ms Kelly announced the formation of two divisions within Westpac, including:

  • Australian Financial Services (AFS), an amalgamation of Westpac Retail & Business Banking, St George Banking roup, BT Financial Group and Banking Products and Risk Management. The division will be headed by Brian Hartzer who will commence the roll in 2012.
  • Group Services, which encompasses Technology Banking Operations, Property Serivecs and Legal. The division will be headed by John Arthur, Group Chief Operation Officer.

 

“I am delighted to welcome Brian to Westpac. 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,” Mrs Kelly said.

 

This next phase was outlined at Westpac’s Full Year Results Presentation on November 2. It has a number of key elements, including:

  • Delivering the benefits from deeper customer relationships, with a particular focus on deposits, payments, trade and wealth cross-sell;
  • Taking multi-brand to the next level, sharpening brand distinctiveness and leveraging the scale of shared technology and support platforms;
  • Accelerating our productivity agenda, driving simplification and standardisation across our operations and implementing new sourcing arrangements;
  • Embedding ‘One Team’ behaviours and raising the bar on people leadership development; and
  • Continued strengthening of the balance sheet.