Merged bank to retain wealth brands
(11 November 2008 – Australia) Westpac chief executive officer, Gail Kelly, has said that under the merger of Westpac and St George, the wealth brands of each bank will be retained.
The wealth management brands of Westpac and St George will be retained in the long-term should the lenders merge, Westpac chief executive Gail Kelly has said.
Kelly said that within the wealth space, the combined bank will absolutely be retaining Asgard and Securitor as well known brand names.
Given the strength of their third-party distribution, Kelly said there is no reason to suggest anything other than to keep those brands.
Other brands, including Westpac Financial Planning, BT Financial Group and St George Financial Planning, would also be kept, Kelly said.
Also, she said BT was well-positioned to merge with Asgard.
Further, Kelly said that BT is a strong business and is well positioned for when equity markets turn around and improve.
It was too early to discuss a merger specifically between BT Wrap and Asgard eWrap, due to their different market positions, she said.
There would be increased team collaboration, higher customer focus and a make it happen culture for both businesses, should they merge, Kelly concluded.
Kelly said that within the wealth space, the combined bank will absolutely be retaining Asgard and Securitor as well known brand names.
Given the strength of their third-party distribution, Kelly said there is no reason to suggest anything other than to keep those brands.
Other brands, including Westpac Financial Planning, BT Financial Group and St George Financial Planning, would also be kept, Kelly said.
Also, she said BT was well-positioned to merge with Asgard.
Further, Kelly said that BT is a strong business and is well positioned for when equity markets turn around and improve.
It was too early to discuss a merger specifically between BT Wrap and Asgard eWrap, due to their different market positions, she said.
There would be increased team collaboration, higher customer focus and a make it happen culture for both businesses, should they merge, Kelly concluded.
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