Westpac CEO Brian Hartzer is splitting his retail and business banking operations as part of a restructure designed to increase service levels.
The move sees the departure of Jason Yetton, group executive for the old combined retail and business banking division, after 20 years with the bank. He will “pursue opportunities outside the organisation”.
Hartzer said: “We recently set an ambition to be one of the world’s great service companies, and this new structure will accelerate our progress towards this goal.”
Consumer Bank – All consumer banking and services under the Westpac, St George, BankSA, Bank of Melbourne and RAMS brands. It will be led by George Frazis who is currently Group Executive, St George Banking Group. He joined the group in March 2009 as chief executive, Westpac New Zealand.
Commercial and Business Bank – Serving small and medium enterprises, commercial and agri-business as well as asset and equipment finance. The division will be led by David Lindberg, the current chief product officer.