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Westpac achieves stellar results in leading survey series


5 December 2014

Westpac Institutional Bank (WIB) today announced outstanding results in the wholesale banking industry’s leading survey series conducted by Peter Lee Associates.

Westpac ranked:

  • No.1 domestic bank of choice in fixed income markets for the third consecutive year in the Debt Securities Survey1.
  • No. 1 Australian bank overall for relationship and sales strength for the 11th year running in the FX Survey2.
  • No. 1 among top 24 banks globally in Australian interest rate derivatives for market penetration3.

Run concurrently, the Peter Lee Associates Surveys are conducted annually among the wholesale market to measure satisfaction levels in the big four domestic banks and their major international peers.

Tony Masciantonio, General Manager Financial Markets WIB, said this year’s result reinforces Westpac’s position in the domestic financial markets as a leader for both fixed income, foreign exchange and interest rate derivatives over the medium term.

“In some of the most highly competitive areas of the banking market where Westpac competes against both domestic peers and global investment banks, winning these top accolades is a fantastic sign of confidence from the market’s most active corporate and institutional participants,” he said.

Westpac stood out in qualitative measures such as breadth of offering, coverage, research, market share, relationships and service which in turn have led to a No 1 market share across most core products.

“This is an impressive result that reflects our continued focus on breadth of offering, coverage, quality service, depth of relationships and unwavering commitment to our customers.

“With a clearly defined strategy connecting our global team, we can deliver an end to end proposition. This encompasses everything from foreign exchange to fixed income origination and research through to management and pricing of risk and a world class domestic and international franchise for distribution of our core products and services.

“We are most appreciative of our customers for their continued support and vote of confidence. We remain focused on maintaining this lead by prioritising and putting them at the centre of what we do, to continue earning their business,” he said.

Westpac Rankings: Peter Lee Associates Debt Securities Investors Survey 2014

  • No.1 Domestic Bank of choice in fixed income markets for the third year running
  • No.1 Australian Bank in market share for CPI Linked Securities, corporate bonds/FRNs and ABS
  • No 1 for domestic market strategy
  • No 1 for CPI Research
  • No.1 for ABS Research
  • No 1 for most useful offshore and domestic bond/semi market flow feedback
  • No1 for Pricing Under Stress/Dislocation in IG Corporate Bonds/FRNs

Bonds and Semis

  • No. 1 Australian bank for overall relationship strength in bonds and semis
  • No. 1 Australian bank for best use of time in bonds and semis
  • No. 1 for most valuable direct access to research analysts, technicians and economists

CPI Linked Securities

  • No. 1 for overall service quality

Peter Lee Associates FX Survey results

  • No. 1 Australian bank overall for relationship and sales strength for 11 years running
  • No. 1 Australian bank for FX market share

Interest Rate Derivatives

  • No. 1 among top 24 banks globally in Australian interest rate derivatives for market penetration
  • No. 1 Relationship Strength for most active customers, representing nearly 90 per cent volume of the market

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.
Westpac Institutional Bank, a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714

About Peter Lee Associates
Peter Lee Associates is a specialised Australian research and consulting firm whose mission is to help leading financial service corporations build and maintain a competitive advantage in service to their wholesale clients.

1. Peter Lee Associates Debt Securities Investors Australia Survey 2014. Rank vs. top 4 major domestic banks. Based upon the most active investors in each type of security. Based upon Westpac achieving a no.1 ranking amongst the four major domestic banks for estimated market share across Corporate Bonds, Asset Backed Securities, CPI Linked Securities and CPI Linked Derivatives, a no.1 ranking for Relationship Strength amongst the four major domestic banks across Commonwealth Treasury and Semi Government Bonds and Asset Backed Securities.

2. Peter Lee Associates Foreign Exchange Survey Australia 2014. Rank vs. top 4 from 307 corporate and financial institutions respondents.

3. Peter Lee Associates Interest Rate Derivatives Australia Survey 2014. Quantitative measure from 188 corporate respondents.