Westpac Pacific moves into new division

THE Westpac Group has announced a change to its reporting structure as part of its 2020 Half Year results yesterday.
According to a statement from the bank, Westpac Pacific will move into a new division named the specialist business division, led by a new group executive Jason Yetton.
Yetton is a proven executive who has experience in running large scale retail and banking businesses.
Westpac PNG and Westpac Fiji are end-to-end banks that offer consumer/retail, corporate and commercial banking, however, they have previously sat within the institutional banking division which looks after large Australian institutions and large global institutions operating in Australia.
“Westpac PNG is a strong business that will benefit from being in this new division, focused on serving the needs of customers with aligned skills and expertise in retail and commercial banking,” Westpac general manager for Asia Pacific Michael Correa said.
“This will allow Westpac’s Institutional Bank to focus on institutional banking in Australia and New Zealand, and internationally.”
This change will not impact Westpac PNG customers or employees.
“We continue to be committed to serving our customers and offering them the best products and services,” Westpac PNG chief executive Brett Hooker said.
“We are investing to improve our service, including plans for a new headquarters in Port Moresby, and to improve our products with new offerings like our Westpac PNG mobile app.”
Westpac has been supporting PNG since 1910 and is the country’s oldest bank.
Westpac also has the Covid-19 customer assistance packages for customers who may have been affected by the pandemic.
Yetton is a proven financial services executive with a consistent track record of success, and achievement across the industry.