Hastings And Westpac

Hastings Management Pty Ltd (HMPL) is a majority owned subsidiary of Westpac, one of Australia’s largest banks by market capitalisation. Westpac acquired 51 percent of HMPL in October 2002 and the remaining 49 percent in November 2005.  As part of its alignment with investors, certain Hastings employees, including key investment professionals and senior management have significant ownership in Hastings through the Long Term Incentive Plan (LTIP). The LTIP provides alignment with investors and enhances the stability and retention of Hastings’ senior management and investment teams. Hastings operates autonomously from Westpac and has an independent governance structure. Hastings employees are dedicated employees and are remunerated in accordance with and are responsible for Hastings' financial performance.