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New Deal


Announced

Viridian Financial Group to acquire Westpac's advisory business.

Synopsis

Viridian Financial Group, a finance broker in Australia, agreed to acquire an advisory business of Westpac Banking, an Australian bank and financial-services provider. Financial terms were not disclosed. “These changes allow us to focus investment in areas where we have a competitive advantage such as platforms and insurance. It also follows previous strategic decisions the Group has made about how it operates in wealth, including its decision to divest or sell-down its asset management businesses (BTIM – now Pendal, Hastings, and Ascalon), as well as partnering with Allianz to provide certain insurance products,” Brian Hartzer, Westpac Group Chief Executive.

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