Australian Westpac Eyes Acquisition Opportunities

July 7, 2000

Sydney-based Westpac Banking Corp. is reviewing possibilities of acquiring insurance and funds management businesses. “We certainly remain excited about opportunities in bancassurance, as we feel it represents the future of financial services,” said David Morgan, chief executive, in a shareholder letter released to the Australian Stock Exchange. “More importantly, we will not consider any acquisition that closes off future organic growth options.”

Was this article valuable?

Here are more articles you may enjoy.