Westpac board and executives in a parallel universe


The Finance Sector Union of Australia represents thousands of staff who work for Westpac Banking Corporation and the union holds grave reservations about the judgement of elements of the bank’s management and Board.

Finance Sector Union National Assistant Secretary Nathan Rees said across Westpac, thousands of workers perform their roles diligently, legally and ethically, every day.

“Those workers are deeply distressed by these allegations, and they are angry that, yet again, decisions made by the Westpac board and executive are not reflective of community expectations,” Mr Rees said.

“In recent days, the Finance Sector Union has raised serious concerns about a Westpac proposal to offshore 16 jobs to the Philippines.”

“These are jobs held by dedicated Australians who take tremendous pride In their ability to provide quality advice and service to their colleagues and customers.”

“The offshoring raises serious concerns about quality of service, protection of customer data, and the obvious implications for Australian jobs. The bank has zero credibility on this issue.”

“We are calling on Westpac to cease this proposal forthwith, and for it not to be resurrected in any way, shape or form.”

“The Westpac Chair must intervene in this matter and halt this offshoring. The executive ranks of Westpac have a demonstrated inability to read the public mood, and the Board is ultimately responsible for the prevailing culture and strategy in Westpac.”

“Lindsay Maxsted must send a strong message that reputation matters more than short term cost cutting.”

/Public Release.