Australia

Group executive for Westpac retail and business banking, Rob Coombe, had resigned and had been replaced by Jason Yetton. 

The ex- Bank of America Merrill Lynch banker replaces Reuben Tucker.

The impact the global financial crisis had on financial services has been well documented; however one of the most interesting insights it revealed, was the power of analytics on the industry. When you look at the companies that have emerged the strongest from the crisis, they owe a great deal to the astute use of real-time predictive analytics. These firms had the systems and organizational structures to capture and act upon early warning signals, monitor a changing environment and adjust responses accordingly. They not only understood what happened in the past, but what it meant, and what they needed to do next.

ANZ Banking Corp. posted a 19 percent rise in annual profit to 5.36 billion Australian dollars or $5.54 billion.

Westpac Banking Corporation posted a 10 percent rise in full year profit to US$7.2 billion from US$6.54 billion U.S. dollars last year.

The bank’s US unit announced earlier it would buy J O Hambro, which offers investment advisory services.

The bank has introduced app for iPhone, Android and Windows 7 and for iPads and Android tablets.

The card company expects all Australian MasterCard credit and debit cards will be PayPass-enabled by April 2014.

The lender has adopted a phased approach in using Twitter, YouTube and Facebook for recruitment.

This will increase Commonwealth’s stake to 20%, the maximum allowed for a foreign investor.

The only female CIO of a Australia’s big four has recently finished the lender’s technology blueprint.

Project 35 raised job loss fears as the lender aims to do business more efficiently and more effectively.

Through Project 35, the lender joins major banks in adjusting to a new, post-financial crisis environment.

Escalating borrowing costs and declining property prices erodes demand for mortgages in the developed world.

The outgoing Cabinet Minister eyed to bring an array of skills and experience to the position.

Australia’s top 4 banks, which include Westpac, hold $1tn loans portfolio in mortgages.