Westpac invites bids for its wealth platform

Australia’s third-largest lender, Westpac, is allowing interested suitors access to confidential information about the business, according to the people, who asked not to be identified as the process remained confidential.

SYDNEY: Westpac Banking Corp has started inviting bids for its wealth management unit BT Panorama, according to people familiar with the matter, kicking off a sale of the country’s largest investment platform that has been a year and a half in the making.

Australia’s third-largest lender is allowing interested suitors access to confidential information about the business, according to the people, who asked not to be identified as the process remained confidential.