Westpac has announced changes to its organisational structure, affecting its retail and business banking, and technology divisions.
The changes, to take place from July 21, reflect chief executive Gail Kelly’s plan to have an operating model aligned with the bank’s strategic agenda, a company spokesperson said.
“While changes are timely with merger plans, changes would have taken place regardless of the proposed merger with St George,” the spokesperson said.
Changes at Westpac will see the bank’s retail and business banking divisions brought together under one banner, and led by current business financial services chief executive Peter Hanlon.
The bank will also align product development and design under a new Product and Operations division, to be led by current consumer financial services group executive Peter Clare.
Former Commonwealth bank chief information officer Bob McKinnon will join the company mid-August to lead its newly created technology division.
The bank’s Business and Technology Solutions and Services (BTSS) division will no longer exist, with BTTS group executive Diane Sias making the decision to leave Westpac mid-September after joining the company last year.
The bank does not anticipate organisational changes will result in job losses, the company spokesperson said.
