Why it matters: Westpac says momentum has turned in its institutional bank.
But analysts say it is starting behind the pack, with institutional returns possibly at a peak.
Jefferies’ head of research Matthew Wilson does not mince words in his assessment of Westpac’s institutional bank.
It had once “boasted double-digit returns and attracted some of Australia’s leading bankers”, but the last decade is best described as a “fall from grace” typified by systemic underinvestment.
Loading...
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
