Often asked: Who Owns Westpac Bank?

Westpac is 58 per cent US owned with 22 per cent held by Aussie shareholders. CBA and NAB (the parent companies of ASB and BNZ respectively) have similar ownership profiles – all dominated by US shareholders with Australia a distant second.

Who is Westpac bank owned by?

JP Morgan Nominees Australia Ltd: 12.75% of Westpac; 12.03% of NAB; 14.40% of ANZ; 11.57% of CBA.

Is Westpac owned by Australia?

Westpac NZ is part of an Australian-owned banking oligopoly, alongside ANZ NZ, ASB and BNZ, that controls nearly 90% of NZ banking sector assets. Westpac NZ has about 1.3 million customers including the NZ Government, and some 4,500 employees.

Is Westpac a private company?

Westpac Banking Corporation is an Australian public company that obtains its revenue from the provision of financial services including lending, deposit-taking, payment services, foreign exchange services, superannuation and funds management, investment portfolio management, insurance services and other general

Which banks are affiliated with Westpac?

Our business comprises four key customer-facing divisions which operate a unique portfolio of brands including Westpac, St. George, Bank of Melbourne, BankSA, BT and RAMS. Through these brands we serve over 13 million customers.

Who owns the Australian banks?

The Australian banking system plays a major role in the country’s financial system. Apart from traditional banking services, banks also provide business banking, trading in financial markets, stockbroking, insurance, and funds management. There are 53 Australian banks, 14 of which are owned by the government.

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Are Bank of Melbourne and Westpac the same?

Bank of Melbourne is a financial institution operating in Victoria, Australia. A subsidiary of the Westpac Group, it was re-established as a separate entity, and re-commenced operations on 25 July 2011. Westpac has owned Bank of Melbourne, and the rights to the brand, since its acquisition of the bank in 1997.

Who owns Westpac New Zealand?

Peter was appointed Westpac Group Chief Executive Officer in April 2020. Since joining Westpac in 1994, Peter has held senior finance positions across the Group, including in Group Finance, Business and Consumer Banking, Business and Technology Services, Treasury and Financial Markets.

Does Westpac own BT?

In 1969, BT began as the Australian subsidiary of the Bankers Trust Company of New York, Bankers Trust Australia. BT is the wealth management arm of Westpac, a banking and other financial services company operating since 1817.

Who owns Macquarie Australia?

Led by CEO Alan Moss, the bank boasts total assets of nearly $33 billion. Macquarie Bank was founded in 1969 as the Australian subsidiary of British investment house Hill Samuel. That company stemmed from a small business founded by Marcus Samuel in London in 1832.

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