Westpac Banking Coroporation
(ASX:WBC) will split its business into two divisions in a bid to simplify banking operations and focus on the customer.
The Consumer bank division will include products and services under the Westpac, St George and RAMS brands and will be lead by George Frazis.
David Lindberg will head up the Commercial and Business banking division for small and medium business, agri-business as well as asset and equipment finance.
The divisions will focus on the end-to-end service experience of their respective customers.
Jason Yetton, head of Westpac Retail and Business banking will leave Westpac to pursue other opportunities.
Westpac made a net profit of $3.6 billion for the first six months of the 2015 financial year.
