Zuber exits at a crucial time for banks
In a sector of the market known for its big personalities and ego, the highly regarded Zuber is old school and humble.
In a sector of the market known for its big personalities and ego, the highly regarded Zuber is old school and humble.
Westpac CEO Peter King has one more key slot to fill after naming Joanne Dawson group treasurer to replace Curt Zuber, as the bank navigates the COVID-19 fallout.
Banks and miners weighed on the ASX 200 and Westpac’s Bill Evans pushed his RBA easing prediction out to November from October.
One of Australia’s major banks predicts the Reserve Bank won’t cut interest rates until the Federal Government hands down its budget.
It’s not only Westpac and Crown that have been put on notice about the importance of taking a tough line on money-laundering.
Major banking stocks pushed the ASX 200 to finish firmly higher, as Westpac clocked its best one-day rise in nearly four months.
Westpac CEO Peter King praised the overhaul as a significant government initiative that would reduce red tape for consumers seeking a loan.
The lender made the right decision by re-engaging with Austrac and copping a record $1.3bn penalty.
The damning indictment by Attorney-General Christian Porter came as Westpac capitulated in the face of Austrac’s demand for a top-end penalty.
When a shocking realisation dawned on Westpac that its critical early warning system was a house of cards, here’s what happened next.
It was a Westpac teller who raised the alarm about possible criminal activity by a person dubbed customer 12.
The $A was around a 9-week low and shares fell after Fed officials said more stimulus was needed, but Westpac provided some recovery for the ASX 200.
Financial crime regulator Austrac says the record $1.3bn fine it secured against Westpac won’t be the end of action against major companies.
Westpac has copped a staggering $1.3 billion fine for failing to stop transactions that funded child exploitation and terrorism.
Westpac has agreed to pay a huge $1.3bn fine to settle its case with Austrac, which says the bank’s delays hindered law enforcement.
With surprisingly symmetrical, era-defining changes, the pair are determined to let workers and small businesses get on with it.
The penalty paid by Westpac is likely to be well over $1bn, significantly higher than the bank’s $900m provision.
Australia’s share market ended a 4-day losing streak with its best day in 9 weeks, adding $38bn of market capitalisation.
Westpac believes the Reserve Bank is gearing itself for an interest-rate cut on the same day the Federal Government will deliver its budget.
Winners and job losses emerge as CBA and Westpac overhaul their private banking divisions.
Original URL: https://www.theaustralian.com.au/topics/westpac/page/42