Westpac enters new transformation phase
(8 December 2009 – Australia) Westpac has announced a number of internal appointments as the group moves into the next phase of the bank’s transformation after a tumultuous week.
The Westpac group chief executive, Gail Kelly, has faced the wrath of the media this week after the bank announced an interest rate increase of nearly double the Reserve Bank of Australia; but Mrs Kelly has signalled the beginning of a new phase of Westpac’s transformation.
Mrs Kelly said that over the past 18 months, Westpac has worked on its retail and business banking distribution platform, including introducing Westpac Local. The bank has also established a multi-brand business model with the successful merger with St George, and has focused on a strong ‘oneteam’ culture.
The next phase of the group’s transformation lies in significantly strengthening its focus on customers, people and productivity, Mrs Kelly highlighted.
Of the internal changes taking place, Peter Hanlon, previously group executive of retail and business banking, is moving into the newly created role of group executive, people and transformation.
Mr Hanlon’s new role will include key customer, people and productivity elements of the group’s transformation program and will also include Corporate Affairs and Sustainability.
Mrs Kelly said she thinks Peter Hanlon is the ideal choice for this important role, with his broad strategic capability and his deep involvement in the development and implementation of the banks distribution strategy.
Mr Hanlon has been key to the excellent performance of Westpac’s Retail & Business Bank, managing the significant investment and roll out of the local branch and bank manager strategy, and achieving strong growth in cross-sell and market share, Mrs Kelly said.
Rob Coombe will be taking on Mr Hanlon’s previous position of group executive, Westpac retail and business; moving from the position of group executive, BT Financial group, which he has held for the past five years.
The successor for Mr Coombe in the position of group executive, BT Financial Group is Brad Cooper who successfully led the St George integration.
Mrs Kelly said she was very pleased to make all three key appointments internally, as a result of the depth and strength of the bank’s executive team.
Mrs Kelly said that over the past 18 months, Westpac has worked on its retail and business banking distribution platform, including introducing Westpac Local. The bank has also established a multi-brand business model with the successful merger with St George, and has focused on a strong ‘oneteam’ culture.
The next phase of the group’s transformation lies in significantly strengthening its focus on customers, people and productivity, Mrs Kelly highlighted.
Of the internal changes taking place, Peter Hanlon, previously group executive of retail and business banking, is moving into the newly created role of group executive, people and transformation.
Mr Hanlon’s new role will include key customer, people and productivity elements of the group’s transformation program and will also include Corporate Affairs and Sustainability.
Mrs Kelly said she thinks Peter Hanlon is the ideal choice for this important role, with his broad strategic capability and his deep involvement in the development and implementation of the banks distribution strategy.
Mr Hanlon has been key to the excellent performance of Westpac’s Retail & Business Bank, managing the significant investment and roll out of the local branch and bank manager strategy, and achieving strong growth in cross-sell and market share, Mrs Kelly said.
Rob Coombe will be taking on Mr Hanlon’s previous position of group executive, Westpac retail and business; moving from the position of group executive, BT Financial group, which he has held for the past five years.
The successor for Mr Coombe in the position of group executive, BT Financial Group is Brad Cooper who successfully led the St George integration.
Mrs Kelly said she was very pleased to make all three key appointments internally, as a result of the depth and strength of the bank’s executive team.
Subscribe