WESTPAC is merging the customer facing activities of its retail and business banks in a sweeping review its organisational structure.
Westpac said its Consumer Finance Division and its Business Financial Services Division would be combined in a new division called Retail and Business Banking.
All consumer and business product development, management and operations will be brought together in a division called Product and Operations.
The changes are part of a review announced by new chief executive Gail Kelly in May.
The restructure has also seen the creation of a new technology division and a new executive position to head it.
Westpac said it had appointed former Brookfield Multiplex Group joint managing director Bob McKinnon as group executive, technology.
Mr KcKinnon was also chief information officer at Commonwealth Bank of Australia from 2000 to 2006.
"As outlined at our profit announcement in May, we have embarked on a journey of significantly improving our service delivery to customers with the explicit goal of earning all of their business, Mrs Kelly said.
"We have identified the need to enhance our customer segmentation capabilities, and to significantly strengthen our consumer and business banking distribution by building strong, locally empowered businesses.''
Mrs Kelly, who resigned as head of St George Bank last year, said a further key priority was to redesign the bank's products processes and operations to make it easier for customers to do business with the bank.
The head of Westpac's business bank, Peter Hanlon, has been appointed group executive, Westpac Retail and Business Banking.
The retail bank head, Peter Clare, has been appointed group executive, Products and Operations.
Westpac said Mr Hanlon's division would be responsible for the sales and service interactions all the bank's customers while Mr Clare's division would focus on redesigning products and processes.
The new technology division was created to recognise the strategic importance in developing information technology in enhancing the experience of customers, Westpac said.
The Business Technology Solutions and Services division will no longer exist, and its head Dian Sias, has decided to leave Westpac. The changes will take take effect from July 21.
Westpac is currently pursuing a takeover of St George.
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