Westpac says institutional bank chief to retire

 Westpac says institutional bank chief to retire
imageStock Markets11 hours ago (May 28, 2020 06:45PM ET)

(C) Reuters.

(Reuters) – Australia’s Westpac Banking Corp (AX:WBC) said on Friday the head of its institutional bank was retiring from the lender, adding to a string of management changes since a major money laundering scandal last year.

The departure of Lyn Cobley, a 5-year veteran of Australia’s second-largest lender, comes just days after the lender said retail banking head David Lindberg and Chief Information Officer Craig Bright were leaving the bank to take up new roles outside Australia.

Last week, Westpac also named an insider to a newly created role overseeing financial crime and compliance with the firm caught up in allegations of enabling payment by known child sex offenders.

Group Treasurer Curt Zuber will act as the chief executive of Westpac Institutional Bank from 1 July till a permanent candidate is appointed.

Westpac says institutional bank chief to retire

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!