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
Global asset manager Janus Henderson could be acquired after receiving a non-binding acquisition proposal jointly from a private investment firm and venture capital firm.
Investment manager Salter Brothers has partnered with private equity firm Kilara Capital to launch an Australian sustainable investment platform focusing on decarbonisation.
Fresh off launching three active ETFs to the Australian market, Avantis Investors is already planning to expand its range with two further products next year.
Ausbil is growing its active ETF range with an ESG product in collaboration with sister company Candriam.
