Westpac Banking Corp Sponsored

Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist and Group. The Consumer segment provides banking products, including mortgages, credit cards, personal loans, and savings and deposit products. The Business segment serves the banking needs of SME and commercial customers, including agribusiness and provides banking and advisory services to high net worth individuals through private wealth. The Westpac Institutional Bank segment provides a broad range of financial products and services to corporate, institutional and government customers. The Westpac New Zealand segment provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand. The Specialist segment comprises the operations that Westpac ultimately plans to exit with agreements in place for the sale of Westpac Life Insurance and motor vehicle dealer finance and notated leasing businesses. The Group segment includes the results of unallocated support functions such as treasury, chief operating office and core support. It also includes group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. The company was founded in 1817 and is headquartered in Sydney, Australia.

Westpac Banking Corp. engages in the provision of banking and financial services. It operates through the following segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist Businesses and Group Businesses. The Consumer segment provides banking products, including mortgages, credit cards, personal loans, and savings and deposit products. The Business segment serves the banking needs of SME and commercial customers, including agribusiness and provides banking and advisory services to high net worth individuals through private wealth. The Westpac Institutional Bank segment provides a broad range of financial products and services to corporate, institutional and government customers. The Westpac New Zealand segment provides banking, wealth and insurance products and services for consumer, business and institutional customers in New Zealand. The Specialist Businesses segment comprises the operations that Westpac ultimately plans to exit with agreements in place for the sale of Westpac Life Insurance and motor vehicle dealer finance and notated leasing businesses. The Group Businesses segment includes the results of unallocated support functions such as treasury, chief operating office and core support. It also includes group-wide elimination entries arising on consolidation, centrally raised provisions and other unallocated revenue and expenses. The company was founded in 1817 and is headquartered in Sydney, Australia.

Westpac's (WBK) fine marks the largest ever civil penalty in Australia's history.

Westpac to Pay Penalty to AUSTRAC for Compliance Failure

Westpac, one of Australia's largest banks, has agreed to pay a record-breaking penalty of nearly $1 billion for systematically allowing money laundering on its watch.

Westpac, one of Australia's largest banks, hit with record $920 million penalty over money laundering scandal

Divestiture of the Vendor Finance business is part of Westpac Banking's (WBK) efforts to move away from non-core operations amid coronavirus scare.

Westpac Banking (WBK) to Divest Vendor Finance Business

Australia's Westpac Banking Corp on Friday agreed to sell its vendor finance business to a U.S. private equity firm, as part of its strategy to focus on core banking operations and trim its portfolio of underperforming businesses.

Westpac sells vendor finance business to focus on core banking

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Westpac Banking Corp said on Friday it was launching a multi-year programme to fix shortcomings in its management of non-financial risk that an internal report found to be "immature and reactive".

Westpac report finds management of non-financial risk 'immature and reactive'

Westpac Banking Corp on Tuesday named KPMG partner Michael Rowland as its chief financial officer.

Australia's Westpac names Michael Rowland as CFO

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Some of Australia's biggest companies have been caught up in underpayment scandals, prompting the federal government to say it would introduce tougher laws that criminalise what it called "wage theft" and ban executives from being company directors if they were involved.

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Australia's Westpac Banking Corp on Friday said it will have to pay A$8 million ($5.54 million) to around 8,000 employees who were found to have been underpaid their long service leave entitlements due to calculation errors.

Australia's Westpac to pay $5.5 million for staff underpayment

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Australia's second largest bank Westpac Banking Corp  on Friday said it has filed its defence in a case where it is accused of 23 million alleged breaches of anti-money laundering laws.

Australia's Westpac files defence in money-laundering case

Westpac Banking Corporation (WBK) CEO Peter King on Q2 2020 Results - Earnings Call Transcript

Westpac Banking Corp. WBC, +1.21% late Wednesday appointed Peter King to be its chief executive and said that he has agreed to the appointment for at least two years.

Westpac Banking names Peter King CEO for next two years

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Investor rights law firm Bernstein Liebhard has filed a class-action suit against Australia's No. 2 lender, Westpac Banking Corp , accusing it of failing to monitor financial crime, the law firm said on Monday.

Australia's Westpac hit with U.S. class-action lawsuit

Australia's No. 2 lender Westpac Banking Corp  said on Saturday a class-action lawsuit, naming former Chief Executive Brian Hartzer and interim CEO Peter King as defendants, has been filed in a U.S.

Westpac hit with class-action suit in U.S. linked to money-laundering case

Australia's Westpac Banking Corp  named a former Barclays  boss as chairman on Thursday, entrusting veteran banker John McFarlane with the task of steering it through the country's biggest money-laundering scandal.

Australia's Westpac hires 'Mack the knife' McFarlane to chair crisis-hit bank

Australia's Westpac Banking Corp  on Thursday named a former Barclays  boss as chairman, entrusting veteran banker John McFarlane to help steer it through the fallout of a massive money-laundering scandal.

Australia's Westpac hires former Barclays chairman to tide over crisis

Westpac Banking Corp on Thursday named banking veteran John McFarlane as chairman-elect, entrusting the former Australia and New Zealand Banking Group  boss to help steer it through the fallout of a massive money-laundering scandal.

Australia's scandal-hit Westpac names veteran banker John McFarlane as chairman

Australia's second-largest lender Westpac Banking Corp  on Friday appointed two people to a panel which will assess the bank's accountability in a money laundering scandal.

Australia's Westpac names two members of money laundering review panel

Australia's banking regulator will use its increased investigative powers for the first time to examine whether Westpac Banking Corp  directors and executives broke the law as part of the bank's money laundering scandal.

Australian regulator investigates Westpac directors, executives after scandal

Westpac Banking Corp  will be required to hold an extra A$500 million in capital after Australia's banking regulator announced an investigation into the bank's alleged money laundering breaches.

Westpac's capital requirements boosted by Australian regulators after scandal

Australia's Westpac Banking Corp  faces a showdown with investors at its annual meeting this week, seeking to hold back an avalanche of outrage over a money laundering scandal that includes accusations of enabling child exploitation payments.

News for Westpac Banking Corp Sponsored Stock (WBK)