At Westpac their five core values are key to how they lead and so any changes to their values requires deep consideration. However, with major changes to the industry and a review of the group's aspirations, they recognized that the group needed to be more bold, innovative and change-ready. The time was right to refresh their values and to include a new value called 'Courage' to stimulate and harnesses innovation across the group.
Since 2012, hundreds of Westpac Group employees have been recognized for their individual acts of 'Courage' and the group are gaining a strong internal and external reputation for innovation.
Westpac was founded in 1817 and was the first bank established in Australia. Today, Westpac Group employs 36,000 people across businesses including Westpac Retail, St George, Bank of Melbourne, Bank SA, BT Financial Group, RAMS – located in Australia, New Zealand, Asia and the Pacific. Westpac is ranked in the top 5 listed companies with a market capitalisation was $61.6 billion. Looking to the future, Westpac's vision is to be one of the world's great companies, helping their customers, communities and people to prosper and grow. In 2017, Westpac will be Australia's first company to celebrate its 200th anniversary.