Business Services Industry
Norwich boss tips more rationalisation for sector.
Australasian Business Intelligence, May, 2002
May 06, 2002 (The Sydney Morning Herald
ABIX via COMTEX) -- Norwich Union's Australian CEO, Rob Garnsworthy, says the master trust industry in Australia is set for further rationalisation. Despite this, Garnsworthy said Norwich's parent, CGNU of Great Britain, had no plans to sell Norwich's master trust platform, Navigator. However, it has been speculated that Norwich and Westpac Banking could form an alliance following the bank's recent desire to expand its wealth management arm. While Westpac said such an alliance was unlikely, Garnsworthy said it would be appropriate for Navigator to be distributed through banks.
Publication Date: 7 May 2002
NORWICH UNION AUSTRALIA LIMITED: WESTPAC BANKING CORPORATION LIMITED
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