Westpac to stay in NZ
![Westpac sign on building](https://financialnewswire.com.au/wp-content/uploads/westpac_sign-min.jpg)
After months of speculation, Westpac has confirmed it is retaining its operations in New Zealand.
The big banking group has announced to the Australian Securities Exchange (ASX) that it will not be proceeding with a demerger of its Westpac New Zealand banking business.
In a statement issued today, Westpac chief executive, Peter King said that after a detailed review, it believed a demerger of the business would not be in the best interests of shareholders.
“Our review identified opportunities to improve service for customers and value across the Westpac New Zealand business and we will progress these with the WNZL Board and management team,” he said.
The ASX statement said the priority was to appoint a new chief executive, to replace David McLean who retires tomorrow.
So let me get this right - Canberra spends an awful lot of time and effort focusing on consumer protection/compliance…
Just wind them up please so the rest of the financial planning industry can move forward without an albatross around…
Compare the pair.
I have clients who have been told to produce evidence they are with cbus or else they can't work on…
Unionist were appointed to the Reserve Bank Board as some sort of pay off. You missed where the Wayne Swan…