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Westpac names Balaji Swaminathan as General Manager, Asia


2 July 2012

Westpac today announced that Balaji (Bala) Swaminathan has been appointed to the position of General Manager, Asia.

Mr Swaminathan, who has held senior executive positions in the Asian banking and finance sectors, will join the Executive Team of Westpac Institutional Bank reporting to its Group Executive, Rob Whitfield.

Westpac Institutional Bank Group Executive, Rob Whitfield, said: “Bala’s appointment reinforces our ongoing strategy to build Westpac’s capabilities in Asia and to identify opportunities that support our customers in the region.”

“Bala has extensive regional experience and a proven track record in building businesses in Asia which will greatly assist our growth strategy as we continue to see increased connectivity with the region in the coming years.” Mr Whitfield said.

Mr Swaminathan was Vice Chairman and Managing Director, Global Corporate and Investment Banking, at Bank of America Merrill Lynch between November 2010 and March 2012. In this position, he was responsible for providing the strategic direction for the bank’s corporate and investment banking businesses in India.

Between 2008 and 2010, Mr Swaminathan held the position of Managing Director, Head Origination and Client Coverage, Southern Asia and South East Asia with Standard Chartered Bank and was responsible for successfully building the businesses growth strategy in these regions. Prior to that, he held senior strategic and customer-facing positions at Standard Chartered Bank, ICICI Bank and KPMG.

Mr Swaminathan will commence with Westpac on the 23rd of July and will be based in Singapore.

Alex Holcomb, who has had responsibility for Asia since 2009, will continue in her role as General Manager, Global Transactional Services.

“Alex has done a tremendous job in building Westpac’s presence in Asia and will continue to support the delivery of our strategy across Global Transactional Services.” Mr Whitfield said.

About Westpac Institutional Bank

Westpac Institutional Bank (WIB) delivers a broad range of financial services to commercial, corporate, institutional and government customers with connections to Australia and New Zealand.

WIB operates through dedicated industry relationship and specialist product teams with expert knowledge in transactional banking, financial and debt capital markets, specialised capital, and alternative investment solutions.

Customers are supported through Westpac branches and subsidiaries located in Australia, New Zealand, United States, United Kingdom and Asia.