St George now a sub-regional
Westpac subsidiary St George Bank yesterday confirmed wire service reports that it had restructured the bank on geographic lines. Six regional managers will be chief executive Greg Bartlett's direct reports.The corporate, business and retail divisional structure remains in place but those groups will report up through the regional managers.In a statement issued yesterday, Bartlett said the aim of the new structure was to make sure that all key regions were represented on the executive team to "bring customers even closer to senior management."Greg Kenny, who was general manager corporate and business bank, is managing director of the northern New South Wales region.Andrew Moore, formerly retail bank general manager, is managing director of southern NSW and the Australian Capital Territory.Peter Lock is the Victorian MD, Martin Barrett Queensland and Malcolm Talbot Western Australia. Rob Chapman remains MD for Bank SA.A spokesperson for the bank said the change was not intended to align St George's management structure with Westpac's."The restructure reflects St George's positioning as the alternative to the big four and will ensure the bank delivers on its proposition of 'big enough, small enough' - delivering a wide breadth of services while small enough to focus on individual, local relationships."The bank is not planning any redundancies as part of the change. The bank says it plans to open another 20 St George branded branches over the next 12 months and has advertised for 100 new customer-facing staff. The management line also is that more staff are wearing Westpac and St George uniforms than before the merger of the two banks nine months ago, though many of those staff, and the Finance Sector Union, say there are fewer support staff. The FSU estimate is that Westpac and St George have cut 600 support staff since the merger, though Westpac says this is on the high side.