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Briefs: Westpac retains local jobs, Suncorp's ratings affirmed, another NPA bribery charge

15 March 2013 5:34PM
Westpac will retain the jobs of 62 staff previously earmarked for offshoring, the Finance Sector Union said yesterday. The FSU said Westpac informed the union that affected staff in the ATM and point of sale business units would now be retained. Westpac's CEO, Gail Kelly, said last week that "Westpac would not replace any more local staff with foreign workers." Suncorp Bank is a brake on any lift in the credit rating of Suncorp Group, Fitch Ratings said yesterday. Fitch said any "positive rating action [was] unlikely because the group's banking exposure is large relative to the size of the insurance entities, and [the bank's] standalone profile acts as a drag on the group rating. Fitch said yesterday that it affirmed all the credit ratings of Suncorp Group Limited and its main operating subsidiaries, Suncorp Metway Insurance Limited, AAI Limited (formerly Vero) and Suncorp Bank. Fairfax Media reports that federal police have charged a ninth former Reserve Bank executive with foreign bribery offences. The Melbourne Magistrates Court was told yesterday that former Note Printing Australia sales manager, Steven Wong, has been charged with conspiring to offer a benefit to another person with the intention of influencing a foreign public official in a bid to obtain or retain business with Nepal's central bank. NPA is 100 per cent owned by the Reserve Bank. Several former executives of its sister company Securency also face charges.

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