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Market Chatter: Westpac Banking Seeks More Private Credit Backing for Loan Portfolio

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Westpac Banking (ASX:WBC, NZE:WBC) is adopting a strategy to split up more of its credit portfolio and obtain backing for the loans from private credit and superannuation funds, the Australian Financial Review reported Monday.

The company has hired former Goldman Sachs partner Rob Taylor to manage the strategy, which comes amid high demand for exposure to Australian loans and will help the bank free up its balance sheet for use in other areas, according to the report.

Westpac did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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