Westpac commits one billion for women in finance
TheWestpac Bankhas made a commitment to spend more than $1 billion on financial services and support for women over the next five years.
The $1.25 billion package of initiatives, announced by Westpac chief executive David Morgan yesterday at the opening of the Global Banking Alliance for Women Summit in Sydney, include a continued focus on the provision of financial services to women through Westpac’s Women in Business Unit and the Women’s Investment Advisory Service.
Part of the allocated sum will also go towards the development of greater financial education for women, in response to womens’ needs as recognised by the bank.
Women’s retirement savings is another area of focus for Westpac’s initiative, a subject that is also being discussed at the Summit.
“In Australia women have only a third of the superannuation and retirement savings of men, which is rapidly becoming a significant national issue,” Morgan says.
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