Westpac has launched an issue of residential mortgage-backed securities, seeking A$1 billion of funding. Series 2019-1 WST Trust is a securitisation of prime residential mortgages. S&P global Ratings has assigned a preliminary rating of AAA to the A notes. The B notes are not rated. AMP has announced a series of leadership changes to take it through a period of transition and restructuring. Alex Wade has been appointed head of Australian wealth management, and Craig Ryman takes on the expanded role of chief operating officer. New Zealand managing director Blair Vernon will lead the Kiwi advice and wealth operations, but will also continue to be in charge of the New Zealand wealth protection and mature operations until their planned separation. They will then transition into the AMP Life business under Megan Beer, and from there into Resolution Life. Once the transfer is complete later this year, Beer will be head of Resolution's Australasian region.