trending Market Intelligence /marketintelligence/en/news-insights/trending/vmqtefep9qo4pqb9d4fslw2 content esgSubNav
In This List

Report: Australia's Westpac may close funds management unit

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Report: Australia's Westpac may close funds management unit

Westpac Banking Corp. may close its funds management unit, Ascalon Capital Managers Ltd., after failing to find a buyer for the business, The Australian reported June 4, citing unnamed sources.

The unit has been off and on the market for approximately 18 months. Generation Development Group Ltd., formerly known as Austock Group, was reportedly one of the potential buyers of the unit.

The Australian lender is planning to close the business unless it finds a buyer the last minute, sources said.