Marketing and Communications
GPO Box 2719
Sydney NSW 1155
COMMONWEALTH BANK EXECUTES WHOLESALE
PORTFOLIO AND ADMINISTRATION AGREEMENT
10 November 2008: Commonwealth Bank of Australia (CBA) today announced that
it has
entered into a four-year Agreement for the provision of online share trading and equities
portfolio administration services with Westpac. The Agreement
represents a significant
milestone for the parties.
CommSec Managing Director Matt Comyn said the partnership with Westpac and BT
emphasises CBA’s commitment to becoming the leading provider of wholesale financial
services to the Australian investment market.
“We are very pleased to partner with Westpac and this arrangement enables Westpac Broking
and BT Portfolio Services to leverage off CBA’s proven capability in share trading and equities
portfolio administration,” said Mr Comyn. “This is a significant vote of confidence from the
market in our ability to successfully operate a wholesale business,” he said.
In November 2007, CBA acquired ASX-listed IWL Limited. Following the acquisition of IWL, the
business has been integrated into CommSec as a separate wholesale operating division,
Australian Investment Exchange Limited (AUSIEX). The Agreement has been executed
between Westpac subsidiaries Westpac Securities Limited and BT Portfolio Services Limited
and CBA subsidiary AUSIEX.
ENDS
For more information contact:
Nichole Ismay
Commonwealth Bank
Ph: (02) 9378 5965
NEWS 
