Westpac: Chief Executive, Consumer and Chief Information Officer Leave

Westpac, one of the largest banks in Australia, announced today some executive changes at the firm.

Chief executive, consumer, David Lindberg and chief information officer Craig Bright are leaving the firm to move to new positions overseas.

An international search has commenced for their replacement, Westpac revealed.

The company also announced the appointment of Les Vance to a new role as group executive, financial crime, Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term and conduct management.

“Les is a thoughtful and energetic executive who will bring a forensic approach to improving and strengthening Westpac’s financial crime and compliance management”, Peter King, chief executive officer at the bank, said.

He added that Westpac has made significant progress in improving its financial crime capability and is confident that Vance will continue to build on this platform of work.

“His deep understanding of the bank and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term will help us further strengthen our management of non-financial risk. Les will bring considerable experience , knowledge and experience and integrity to his new role”, King noted.

Vance’s appointment will allow chief risk officer David Stephen to focus on the financial risk management of the organisation, particularly the credit portfolio, given the challenges of the Covid-19 pandemic.

Contribution to Westpac

King said in his statement that Lindberg made significant progress on improving customer satisfaction and the digital experience, while Bright improved the capability of the bank’s technology infrastructure, implemented the customer service hub and achieved significant efficiencies in vendor services.

He thanked Lindberg and Bright for their contribution to Westpac.