Daily Dispatches: Westpac moves its under-fire retail boss

Westpac's under-pressure retail banking boss has been moved to head up the lender's technology and human resources operation. Peter Hanlon, was appointed to the role in July last year, has been in the firing line from politicians and customers for most of the past week following Westpac's decision to raise interest rates at almost twice the level of the Reserve Bank. Ahead of an investor briefing later today, Westpac said Mr Hanlon has been appointed group executive for people and transformation. In this role he will be responsible for modernising the technology and streamlining processes for customers. (The Age)

Barclays Capital has unveiled ambitious plans to become a full-scale investment bank in Australia and build a domestic equities business in the first half of next year, as it attempts to move deeper into the fiercely competitive local banking market. The British institution has sought regulatory approval to offer equities trading for the first time in more than a decade in the domestic market. (The Australian)

The Competition watchdog says more bank takeovers are unlikely and also says it will still knock back Caltex Australia's attempted takeover of Mobil Oil Australia's service stations even if some sites are excluded from the deal. Chairman of the Australian Competition and Consumer Commission Graeme Samuel said yesterday it was unlikely the regulator would approve a takeover of Bank of Queensland, Suncorp Metway, or Bendigo and Adelaide Bank by one of Australia's Big Four banks. (The Australian)

Here's more good news for job seekers, with a major survey of employment advertising reporting the largest gain in more than two years. WA and Victoria led gains. The total of jobs advertised in major metropolitan newspapers and on the internet rose 5.2 per cent last month, the ANZ bank reported in its monthly survey, reversing a 1.7 per cent drop in October. Ads in papers alone rose 8.3 per cent. (Business Day)