St George emphasises the local in personal banking business
(26 October 2004 – Australia) St George has restructured its Personal Customer and Wealth divisions to focus on servicing retail customers in a series of local markets.
The Personal Customer division, which is headed up by Andrew Thorburn, will be renamed Retail Business and will preside over all customer contact points and distribution channels such as ATMs, branches, mobile lenders and even brokers.
The bank said the division will be run as a series of local markets as "customer needs differ by local markets" and that the strategy emulated the model used by the "highly successful" BankSA.
St George said that under the new structure, retail product development, customer segment management, retail marketing, risk management and operations would all belong under the Wealth Management and Retail Financial Services umbrella – part of Paul Fegan’s portfolio.
The bank said the changes were a natural next step in its strategy of differentiation along the lines of "outstanding customer service delivery through engaged people".
St George said it would soon appoint Regional General Managers who would be accountable for driving local market businesses. The bank’s Wealth Management businesses, including Sealcorp and Advance Funds Management, would remain unaffected by the new structure.
The bank said the division will be run as a series of local markets as "customer needs differ by local markets" and that the strategy emulated the model used by the "highly successful" BankSA.
St George said that under the new structure, retail product development, customer segment management, retail marketing, risk management and operations would all belong under the Wealth Management and Retail Financial Services umbrella – part of Paul Fegan’s portfolio.
The bank said the changes were a natural next step in its strategy of differentiation along the lines of "outstanding customer service delivery through engaged people".
St George said it would soon appoint Regional General Managers who would be accountable for driving local market businesses. The bank’s Wealth Management businesses, including Sealcorp and Advance Funds Management, would remain unaffected by the new structure.
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