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Westpac breaks away in NZ, history says others follow – The Australian Financial Review

When one big four bank moves, its three rivals tend to follow suit.

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Go back further, and you can map the banks getting into and out of various assets at similar times for decades.
So with the big fours boards and management teams all banging on about returning to their core Australian banking operations and, for the time being at least, finding favour with investors, the writing is on the wall across the Tasman.
Westpac is the first to move. As Street Talk revealed on Wednesday, the Sydney-based bank is mulling the future of its NZ arm, which is a big player in…

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