Westpac appoints merger leader

chief executive officer chief executive

4 June 2008
| By Justin Knight |
image
image
expand image

Gail Kelly

Westpac Banking Corporation has taken a further step towards integration with St George Bank, and appointed Westpac group executive Brad Cooper to lead the merger implementation plans.

While the merger has yet to be approved by the Australian Competition and Consumer Commission, Australian Prudential Regulation Authority and the Federal Treasurer, Wayne Swan, Westpac remains hopeful, having signed a merger implementation agreement (MIA) recently.

Westpac chief executive officer Gail Kelly said: “Although there are a number of steps before the merger is approved, we are commencing detailed merger implementation design and planning, on a joint basis with St George.”

According to Kelly, in designing and implementing the integration, Cooper will use this unique opportunity to drive customer-focused strategic initiatives identified in recent months.

Cooper is currently chief executive, Westpac New Zealand, and will take up the new role from June 9, 2008.

“Brad’s extensive financial services experience, including leading major integration programs, will ensure that we can quickly achieve the benefits of this merger,” Kelly said.

“In a short time Brad has turned Westpac New Zealand’s performance around following an intensive program to increase customer satisfaction levels, including improving the effectiveness of Westpac New Zealand’s distribution and back-office operations.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

20 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

5 days 1 hour ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 3 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 5 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 23 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

3 days 2 hours ago