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.
Recommended for you
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
South Australian financial advice and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
Mason Stevens has tapped Investment Trends’ head of growth, alongside two other hires, to bolster its distribution team.
