Westpac names new consumer head 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 David Lindberg, current business bank chief executive, will lead the consumer division.

As part of the restructure, the private wealth, platforms & investments, and superannuation businesses will move into an expanded business division, while the insurance business will move into the consumer division.

Commenting on Lindberg's experience, Westpac Group chief executive Brian Hartzer said: "David is an experienced banking executive who has been an outstanding leader of the Business Bank over the past four years. As head of the Business Bank, David and his team took it to number one in customer satisfaction, transformed its digital offering and consistently grew cash earnings by carefully managing margins, operating expenses and improving service quality.

He added: "He is also an experienced retail banker, having worked across three Australian banks in a number of operational and strategic positions including as Westpac's Chief Product Officer, responsible for product and digital across the Group."

General manager commercial banking, Alastair Welsh, will lead the business division on an acting basis, while a global executive search is underway for Lindberg's replacement, Hartzer said.

In other group executive changes, Westpac has announced that BTFG chief executive, Brad Cooper, and consumer bank chief executive, George Frazis, will depart the group.