Westpac still considering sale of platforms and super business
Westpac has used its first-half results announcement to confirm that both its life insurance business and its major platforms business remain under consideration for sale.
In an investor briefing, the big four banking group confirmed the expected completion dates for the sale of its vendor finance, general insurance and lender mortgage insurance businesses and confirmed that its life insurance, auto finance and superannuation, platforms and investments businesses were “under consideration”.
The businesses fall within the bank’s so-called Specialist Business Division, with the briefing pack nominating the BT, BT Panorama, Advance Asset Management, and Asgard brands.
The vendor finance, general insurance and Westpac Pacific sale transactions are all slated to complete in the second half of this year.
Recommended for you
Evidentia’s chief investment strategist Nathan Lim has announced his retirement after a 30-year career.
GQG Partners has marked its fifth consecutive month of outflows as its AI concerns lead to fund underperformance but overall funds under management increased to US$166.1 billion.
Apostle Funds Management is actively pursuing further partnerships in Asia and Europe but finding a suitable manager is a “needle in a haystack”.
Managed account provider Trellia Wealth Partners, formed from the merger between Betashares and InvestSense, has appointed its first managing partner.
