Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Call For New Westpac CEO to reinstill confidence

Bank workers call on new Westpac CEO to reinstill confidence

Finsec, the finance sector union, is calling on new Westpac Chief Executive Office Brad Cooper to reinstill workers and customers confidence in the bank. Westpac announced today current CEO Ann Sherry will be stepping down from the role early next year.

“The change in CEO presents a further opportunity to turn around Westpac’s culture and performance,” said Andrew Campbell, Finsec Campaigns Director.

“We believe the key to Westpac’s success will be to change its current business model and make a greater investment in its New Zealand operation,” said Campbell.

“Westpac has the lowest customer satisfaction ratings out of the major banks and its workers have some of the lowest pay rates. We hope that Brad Cooper will prioritise fixing both of these problems,” said Campbell.

“Westpac’s cost to income ratio is the lowest in the industry and as a result its performance has lagged behind the other banks. We hope the new CEO will review this cost reduction approach and make greater investment in the business to grow its profit,” said Campbell.

“We look forward to meeting the new CEO and are willing to positively discuss these issues with him,” said Campbell.

Westpac workers took industrial action late last year over their pay system which linked sales of bank products such as credit cards to pay increases.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news