the adviser logo

Westpac RAMS transaction complete

by Staff Reporter7 minute read
The Adviser

Westpac Banking Corporation completed its acquisition of the RAMS franchise distribution business on Friday.

Westpac CEO David Morgan expressed confidence in the transaction, stating that the deal provides the bank with another growth option for its retail banking business and that RAMS franchisees will benefit Westpac with their “innovative, nimble and flexible approach”.

Morgan also confirmed his belief in the future success of the RAMS franchise.

“Not only have we increased our distribution network by over 10 per cent, we will invest in the entrepreneurial talent at RAMS to ensure it remains an aggressive market player,” he said.

“With the transaction now complete, we are confident that they [franchisees] can aggressively grow their businesses, assisted by the support of a large, secure and stable bank,” he said.


Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more