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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
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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