Westpac names business arm chief executive

Westpac has named the chief executive of its newly formed business division after announcing a group restructure in March.

Guilherme (Guil) Lima joins the Westpac group from HSBC, where he was most recently group head of wealth management for the last two years.

He spent a further six years working in executive roles at HSBC's global divisions, including regional head of wealth management for Asia Pacific, and regional head of retail banking and wealth management for Latin America.

Prior to HSBC, Lima spent over 13 years at McKinsey & Company, leading client relationships across emerging and developed markets in retail and wholesale banking and wealth. He was appointed partner in 2007.

Lima takes over from general manager of commercial banking Alastair Welsh, who was appointed as chief executive in an acting capacity of the business division.

Westpac chief executive Brian Hartzer said Lima's background in leading strategic change on a global basis, as well as his expertise in banking and wealth, will be particularly valuable as Westpac seeks to grow the breadth of customer relationships across the new business division.

Westpac announced in March it would realign its wealth strategy and BT Financial Group will cease as a standalone division.

Its insurance divisions moved into business and consumer; private wealth, platforms and investments and superannuation moved into an expanded business arm.

Moving BTFG in-house will see the departure of Brad Cooper, who has served as chief executive for more than nine years.

Cooper will see through the transition of the businesses into new divisions but has indicated he will seek a new leadership role elsewhere, Westpac said.

Read more: WestpacHSBCAlastair WelshANZBrad CooperBrian HartzerBT Financial GroupGuilherme Lima
Link to something y8C5nsJk