Merger With Westpac Banking Corporation (2008)
On 14 November 2007 Paul Fegan was announced as the new CEO of the St.George Bank to replace Gail Kelly, who had departed on 17 August 2007 to become CEO of Westpac Banking Corporation. On 9 May 2008, Westpac and St.George released communications outlining an intention to merge, which was approved by St.George shareholders on 13 November 2008, and upheld by the Australian Federal Court on 17 November 2008. Immediately following the court decision, Paul Fegan announced his resignation as CEO and Managing Director. St.George, and BankSA, became a subsidiary of Westpac on 1 December 2008.
Upon completion of the merger with Westpac, Greg Bartlett (former Group Executive in charge of St.George Institutional and Business Bank) was appointed Chief Executive Officer of the Bank, reporting to the Chief Executive Officer of Westpac, Gail Kelly.
In late 2010, Greg Barlett announced that he would step down at Chief Executive Officer in December after a long and successful tenure with the company. Rob Chapman (Managing Director of BankSA) would be appointed in the role.
Since coming to office, Rob Chapman has led St.George Bank in conjunction with and support from its parent Westpac Banking Corporation, on a multibranded strategy which has recently seen St.George take Group business units such as RAMS and relaunch the Bank of Melbourne underneath its banner. The bank is now commonly referred to as the St.George Banking Group.
Read more about this topic: St.George Bank
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