Briefs: Westpac unfair dismissal case, Malaysian bank merger timeline
Intriguing allegations relating to risk management at Westpac BT arm were aired in a civil proceeding last week. Wesley William Hall is suing Westpac for unfair dismissal and is seeking A$600,000 in compensation, claiming he was fired after raising serious concerns about BT, Fairfax Media reports. Hall, 42, was terminated from his position as chief operating officer of the advice unit in BT Financial Group in February 2016. Hall is now a fintech consultant, his LinkedIn profile shows. Fairfax reports that Westpac claims Hall's "behaviour at work functions had been inappropriate" and he had "failed to meet the standard expected of a person of his seniority". A three-day hearing has been set down for September in the Federal Circuit Court. AMMB Holdings Berhad - an associate of ANZ - andRHB Bank Berhad said they would allow until 30 August 2017 for an exclusivity agreement "for a proposed merger" between the two banks. If it proceeds, "it is envisaged that the transaction will effectively be an all shares merger," they said. RHB Banking Group is the fourth largest financial services group in Malaysia.