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Westpac
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Retail FX
Westpac's Record $12 Billion Swap Deal Leads to Court Penalty
The bank was fined for 2016's unconscionable conduct in a $12 billion interest rate swap.
Court declares bank's actions in the largest swap transaction in Aussie history unconscionable.
Wednesday, 31/01/2024 | 08:49 GMT
by
Damian Chmiel
Retail FX
ASIC Fights for the Little Guy against Westpac for Hardship Notice Delays
Westpac has not responded properly to customer hardship notices.
The bank's failure to act has exacerbated the financial difficulties of 229 customers.
Tuesday, 05/09/2023 | 08:19 GMT
by
Damian Chmiel
Institutional FX
Westpac Faces $83 Million Fine for Several Lapses
The bank charged services fees to over 11,800 deceased customers.
The judge said that the bank 'systemically' failed to address the lapses.
Friday, 22/04/2022 | 06:17 GMT
by
Arnab Shome
Executive Moves
Saxo Markets UK Adds Nicholas Wilcock and Michael Ridley to Its UK Board
Wilcock spent more than a quarter of a century at Credit Suisse.
Ridley has over forty years of experience in investment banking.
Tuesday, 11/01/2022 | 13:05 GMT
by
Tom Hazan
Institutional FX
Westpac Faces 6 Civil Penalty Charges from ASIC
The bank allegedly violated compliances for several years, affecting thousands of customers.
Tuesday, 30/11/2021 | 06:33 GMT
by
Arnab Shome
Executive Moves
GlobalBlock UK Recruits Rodney Prescott as Its Chief Technology Officer
Prescott brings a wealth of experience to GlobalBlock UK, specifically in blockchain, digital assets and banking.
Wednesday, 13/10/2021 | 09:45 GMT
by
Tom Hazan
Regulation
Court Approves AUSTRAC’s AU$1.3 Billion Fine on Westpac
This is the largest civil penalty faced by anyone in Australia.
Wednesday, 21/10/2020 | 06:42 GMT
by
Arnab Shome
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Regulation
Westpac & AUSTRAC Agree on $1.3B Proposed Penalty for AML Breaches
If approved by the Federal Court of Australia, it will be the largest civil penalty in Australian history.
Thursday, 24/09/2020 | 04:22 GMT
by
Celeste Skinner
Executive Moves
Westpac Appoints Chris de Bruin as CEO for Consumer Division
Bruin joins the Australian bank from Deem, a non-bank financial institution in the Middle East.
Monday, 21/09/2020 | 05:52 GMT
by
Celeste Skinner
Executive Moves
New CFO at Westpac: Michael Rowland
He will replace Gary Thursday in his role later in the year.
Tuesday, 14/07/2020 | 09:53 GMT
by
Finance Magnates Staff
Executive Moves
Westpac: Chief Executive, Consumer and Chief Information Officer Leave
David Lindberg and Craig Bright exit the bank to take up new roles overseas
Tuesday, 19/05/2020 | 08:26 GMT
by
Finance Magnates Staff
Executive Moves
Christopher Dudley Joins Siege FX
He was a Global FX Core Business Manager at Bloomberg before
Monday, 04/05/2020 | 11:24 GMT
by
Finance Magnates Staff
Executive Moves
Westpac Names Peter King as CEO to Bring Clarity During COVID-19
King was previously the acting CEO of the Westpac Group.
Thursday, 02/04/2020 | 10:05 GMT
by
Celeste Skinner
Regulation
Westpac Facing Civil Penalty Over Non-Compliance Issues
AUSTRAC applied for civil penalty orders against the banking group following a series of lapses and oversights.
Wednesday, 20/11/2019 | 07:53 GMT
by
Jeff Patterson
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