Consumer bank chief to depart Westpac following restructure

Westpac has announced that its BT Financial Group (BTFG) businesses will be merged into the bank's consumer and business divisions and that consumer bank chief executive George Frazis will depart the group, effective June 2019.

Commenting on Frazis' experience, Westpac Group chief executive Brian Hartzer said: "Since being appointed chief executive, consumer bank in 2015, [George] has instilled a strong customer-centric culture and introduced our Service Promise - which is now used by our 39,000 employees across the Group...His commitment to strengthening customer relationships, simplifying the business and driving improved service has seen more than a million new customers join us across all our consumer brands over the past four years."

He added: "George is a highly talented and experienced executive. I thank George for his significant contribution and the personal support he has provided to me over the past seven years."

In other group executive changes, Westpac has announced that David Lindberg will lead the consumer division, replacing Frazis, and that BTFG chief executive, Brad Cooper will depart the group.