Westpac awarded No.1 title across Peter Lee Associates and Euromoney
3 June 2015
Westpac Institutional Bank (Westpac) has taken out this year’s top industry accolades to win;
- No. 1 Lead Transactional Bank for an unparalleled 12th year in a row and reclaimed the No.1 Lead Relationship Bank in the Peter Lee Associates Survey (Peter Lee).
- No. 1 Australian bank for FX market share globally for the tenth year in a row in the closely watched annual Euromoney FX Survey (Euromoney)3.
As the leading indicator of performance across wholesale banking, Peter Lee ranks the big four domestic banks and their major international peers.
Westpac Institutional Bank Chief Executive, Rob Whitfield said this is a fantastic win and conveyed thanks to customers for their continued support.
“This is a tremendous vote of confidence to win Lead Transactional Banking for twelve consecutive years and to win back Lead Relationship Bank,” Mr Whitfield said.
“Similarly with Euromoney, our ability to strengthen our position and grow FX market share year on year reflects the quality and depth of our market relationships.
“We have worked tirelessly to deliver deeper customer relationships across the business. It is fantastic to see our unwavering commitment to our customers is having an impact where it counts.
“We are constantly reinventing the customer experience by evolving, improving and simplifying our transactional banking and relationship offering. We remain focused on maintaining this lead by prioritising and putting our customers at the centre of what we do, to continue earning their business,’ he said.
Key Survey Findings
Peter Lee - Transactional Banking1
- No.1 for Lead Transactional Bank citations (12th year in a row)
- No.1 for Overall Market Penetration (11th year in a row)4
- No.1 for Relationship Strength Index
- No.1 for understanding transaction banking needs best2
Peter Lee - Relationship Banking2
- No.1 for Lead Relationship Bank citations
- No.1 for Overall Customer Satisfaction
- Equal No.1 for Overall Market Penetration
- Equal No.1 for Recommend to Associate
- No. 1 for Most Trusted Adviser
- Equal No. 1 for Most Effective Senior Management Support
- No. 1 for Prompt Follow Up
- No. 1 for Visits more Often
- Equal No.1 for Relationship Manager Capability
- Least onerous loan documentation process5
Summary of Westpac Euromoney results3
- Market Share: Westpac No. 1 Australian bank for market share globally
- Market Share: Westpac No. 1 for New Zealand customer market share
- Market Share: Westpac most improved institution globally for bank sector market share
- Market Share: Westpac most improved bank across the Asian and North American regions region
- Client Service: No.1 ranking for client service globally in the AUD/NDZ/CAD bloc
- Client Service: No.1 Global FX Bank for client service in the Asian and Australasia time zone
- Currency Ranking: No1 Global FX Bank for AUD / NZD / CAD Currencies
- eFX: Westpac doubled FX volumes and market share through E-trading channels (Globally and Australasia)
- Research: No. 1 Australian FX bank in the Australasian region for G10, EM Quantitive, Flow research and Technical analysis (not sure if you want to mention all of them)
1 Peter Lee Associates Large Corporate and Institutional Transactional Banking Survey Australia. Quantitative measures from 602 votes in 2015. Westpac ranks no.1 for citations as ‘lead’ transactional Bank from 2004-2015. Westpac ranks no.1 in the Peter Lee Associates relationship strength index score across the total respondent base.
2 Peter Lee Associates Large Corporate and Institutional Relationship Banking Survey Australia. Quantitative measures from 602 votes in 2015. Westpac ranks no. 1 for citations as ‘lead’ relationship bank 2015
3 Euromoney FX Poll 2015. Measure of market share from 3,794 FX industry votes.
4 Equal No.1 in 2010.
5 Ranks vs. top 4.