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WBC, WESTPAC BANKING CORPORATION
nipper
post Posted: Sep 12 2020, 08:07 PM
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Westpac ... wealth management

Westpac, Australia's oldest bank, is pursuing the same model as the biggest bank, CBA. A model of wholesale only. Like NAB, however, it has moved the private bank into the business division.

It seems like a lifetime but it was only 18 months ago the bank said it was resetting its wealth strategy with the sale of its employed adviser arm to Viridian. Like the others, it has not turned its back on wealth entirely with about 500 staff at its private arm.

Ashley Stewart, managing director of Westpac Private Wealth, says it specialises in providing banking, lending and investment services to 10,000 customers.
QUOTE
Our global investment service for high net worth individuals is one of the market's fastest-growing propositions for sophisticated, wholesale investors with investable assets above $1 million, he adds.

On the investment side, Westpac will lend its expertise to help blend the right mix of equities, funds, property, debt, bonds, private credit and private equity. They also do execution and can discuss specific holdings.

If you have less than $1 million, Westpac is happy to give you the name of a good financial adviser. And they wont even take a commission. (aka forget about it, next, moving on quickly, get outa here, do not waste my time, I am not out of bed for less than $2mill, etc)



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: Jun 18 2020, 09:56 AM
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Westpac Banking Corporation announces a fully-underwritten offer of approximately 31
million Pendal Group Limited (ASX:PDL) (Pendal) shares (which is circa 9.5% of Pendal's
shares on issue) (the Offer) to institutional investors domiciled in Australia and other
relevant jurisdictions1
. This announcement is consistent with Westpac’s disclosures since
the time of its previous sell-down of Pendal shares in 2017 in which Westpac has indicated
that it would sell its remaining stake in Pendal at some future date.
The Offer price for the shares has been set at $5.98 per share, which is a discount of 4% to
Pendal's last closing price of $6.23 on 17 June 2020 and a 5.1% discount to the 30-day
VWAP of $6.30.
Finalisation of the Offer will complete the divestment of Westpac’s proprietary shareholding
in Pendal, following earlier share sales in 2007, 2015, and 2017.
Acting Chief Financial Officer, Westpac Banking Corporation, Gary Thursby said: “Pendal is
a highly regarded, independent business, and given Westpac’s commitment to simplify its
operations and focus on banking in Australia and New Zealand, now is the right time to
complete our divestment”.
Completion of the Offer is expected to add approximately 2 basis points to Westpac’s
Common Equity Tier 1 capital ratio and will result in a post-tax accounting gain for Second
Half 2020 of $32m that will be included in Westpac's Full Year 2020 statutory result.
Consistent with past practice, the gain will be excluded from the calculation of Westpac’s
cash earnings2
.
UBS is acting as Sole Lead Manager, Underwriter and Bookrunner of the offer.
Settlement of the transaction is expected to occur on 22 June 2020.

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good to see the sell down, about 180mil in the bag, nice!!

 
early birds
post Posted: Jun 17 2020, 03:26 PM
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https://www.afr.com/companies/financial-ser...20200617-p553g9

Justice Jonathan Beach said although he accepted AUSTRAC would receive alerts about suspicious transactions it needed to investigate almost "continuously”, it needed to draw a line under the allegations.

"I do think it’s time to close this pleading for want of a better word ... We do need to guillotine it at some stage," Justice Beach said.

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if the court's ended jugement in favour of WBC it could spark SP up 10% in one go imho.



 
early birds
post Posted: Jun 5 2020, 10:49 AM
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https://www.afr.com/chanticleer/westpac-exp...20200604-p54zhu

Our assessment is that, while not satisfactorily focused before 2017 and slow off the mark, the board’s response appears to have been appropriate after 2017, though reaction times remained slow

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after self confess then the conclusion sound bit of positive after 2017.......
still think it worth a good look at it's current price... but as my hands are really tight, can't do much of myself!! weirdsmiley.gif



 
early birds
post Posted: Apr 2 2020, 09:34 AM
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https://www.afr.com/companies/financial-ser...20200402-p54g9v


Across our organisation, we are working hard to ensure we remain open for business ... We must also look to the future for the best way for Westpac to meet the challenges," Mr King said.

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yep!!! got prop manager team, but divy for all the banks seems under pressure .
cut the divy support reckless borrower ------way to running a biz!!



 
nipper
post Posted: Mar 16 2020, 04:52 PM
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In Reply To: mullokintyre's post @ Mar 16 2020, 04:16 PM

stopped paying attention at homo dice pacem
....
..

..

.found above the fireplace btw




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 

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mullokintyre
post Posted: Mar 16 2020, 04:16 PM
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In Reply To: nipper's post @ Mar 16 2020, 04:10 PM

You obviously were not reading your Latin Quia Hodie too closely ad ludum. .
Mick



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sent from my Olivetti Typewriter.
 
nipper
post Posted: Mar 16 2020, 04:10 PM
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In Reply To: mullokintyre's post @ Mar 16 2020, 03:57 PM

cattus mortuus ?

(then run over by a Kenworth rig)




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
mullokintyre
post Posted: Mar 16 2020, 03:57 PM
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In Reply To: early birds's post @ Mar 16 2020, 02:21 PM

What I have learned from the past is that you never know the market is turned around until well after the event.
Takes more than one day's rise- beware the recently passed feline rebound.
Mick



--------------------
sent from my Olivetti Typewriter.

Said 'Thanks' for this post: nipper  early birds  
 
early birds
post Posted: Mar 16 2020, 02:21 PM
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In Reply To: nipper's post @ Mar 16 2020, 01:29 PM

will market turn around tomorrow??

this is crazy market ever seen. but so far i'm on top of it.
not sure what will wall street reacting , to me i just try to fig it out how big the down side for Dow Spx Dax, . try to work out strong support level of them.





 
 


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