Westpac’s Rob Coombe has stepped down as group executive of the major bank’s retail and business banking division, Westpac chief executive Gail Kelly said in a statement.
“I would like to thank Rob for his significant contribution to the group, firstly in BT Financial Group and more recently driving enhanced momentum in Westpac retail and business banking,” Kelly said.
“Notably in BT, Rob and his team developed sector-leading products and platforms, including the innovative BT Super for Life. We wish Rob well for the future.”
Westpac distribution executive Jason Yetton replaces Coombe, effective immediately.
Coombe’s decision to depart the group comes as the banking institution announces a new organisation structure.
As part of the new structure, Westpac has created two new divisions: an Australian Financial Services (AFS) division and group services decision.
The bank named Brian Hartzer head of the AFS division.
AFS will be made up of Westpac retail and business banking, St George Banking Group and BT Financial Group, as well as banking products and risk management.
The group services division will be led by group chief operating offer John Arthur and encompasses technology, banking operations, property services and legal.
