Westpac CEO Gail Kelly is believed to be concerned that St George customers may move to Bendigo or ANZ as the merger takes hold. Just one St George executive ha.....
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Mortgage broker PLAN Australia looks set to cut back sales of Westpac home loans and switch over to selling Bankwest loans assuming Bankwest does not reduce their commission structure. Brokers which are under no legal obligation to disclose commission except in Queensland and Western Australia are likely to shift sales of loans away from Westpac (brokers account for 40 per cent of all new sales). PLAN chief executive Ray Hair indicated that Westpac could expect a significant fall in volume as a result of their changes.