Business
Westpac exec departs as divisions merged – afr.com
Chris de Bruin, who joined Westpac just months ago, will head the newly merged consumer and business banking divisions as business banking boss Guil Lima exits.
The changes will see Westpac unwind a decision to separate the two divisions made just five years ago by former CEO Brian Hartzer and consolidate the businesses responsible for about 90 per cent of cash earnings at the bank.
The departure of Mr Lima has occurred just 15 months after he began working for the bank, which occurred at the same time as financial intelligence regulator AUSTRAC delivered a king hit with 20 million breaches of the AML CTF act that ultimately required a $1.3 billion settlement.
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