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Kiwi banks may follow Australians out of wealth business
Tuesday 4th of December 2018
Westpac’s chief executive in Australia has blamed a “dramatic rise in compliance costs” forcing him to reconsider his commitment to a full-service wealth operation.
It is the last major Australian bank to hold on to the wealth channel there, as others ditched it amid allegations of misconduct.
Now, although chief executive Brian Hartzer said vertical integratio...
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