Lima had been in charge of the Business division for the last 15 months, steering it through the COVID-19 pandemic. According to group higher-ups, the decision was made to simplify and consolidate business processes, as well as saving costs. The changes will come into effect from next Monday.
“The combined division will help to deliver reduced costs and broader efficiencies by removing duplication in areas such as some of our support functions,” said an email that was published in Australian Financial Review. “It will also help better utilise the capabilities we share across consumer and business, such as our branches and call centres.”
The head of the Consumer division, Chris de Bruin, will take over charge of the newly rebranded Consumer & Business Division, who only joined the group a few months ago.
“Our new lines of business operating model has given us a solid foundation for this change, with greater clarity on accountability and a common management approach across each of the six business lines,” said Westpac Group CEO Peter King.
“The combined division will drive simplification of banking and help to reduce cost, including by consolidating support functions. The change will enable more efficient utilisation of common assets such as branches and call centres, and better capitalise on the work underway to improve our capabilities, particularly in service, digital and data.”
“Mr de Bruin has significant experience running both consumer and business banking functions at a large multinational bank, as well as a strong background in fintech and digital banking, which will be particularly valuable as we better support customers’ needs.”
