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Home | Shareholder centre | Financial results | 2003 Full Year Financial Results | Detailed Financial Information | Full Time Equivalent Employees

9. Full Time Equivalent Employees (1)

  As at
 Change on
By Region
  Sep 03
No.		   Mar 03
No.		   Sep 02
No.		  
  Mar 03
No.		   Sep 02
No.		  
Ongoing operations
Australia(2) (3) (4)
  23,880   24,288   24,294  
  (1.7)   (1.7)  
Europe
  13,104   13,298   13,540  
  (1.5)   (3.2)  
New Zealand(2)
  4,688   4,640   4,560  
  1.0   2.8  
United States
  136   135   127  
  0.7   7.1  
Asia(4)
  732   641   641  
  14.2   14.2  
Total ongoing operations
  42,540   43,002   43,162  
  (1.1)   (1.4)  
Total disposed operations
  -   -   40  
  large   large  
Total full time equivalent employees (FTEs)
  42,540   43,002   43,202  
  (1.1)   (1.5)  
By Division
Ongoing operations
Financial Services Australia(2)(5)
  17,233   18,149   17,928  
  (5.0)   (3.9)  
Financial Services Europe
  11,423   11,563   11,719  
  (1.2)   (2.5)  
Financial Services New Zealand
  4,257   4,221   4,277  
  0.9   (0.5)  
Retail Banking
  32,913   33,933   33,924  
  (3.0)   (3.0)  
Corporate & Institutional Banking
  2,612   2,537   2,564  
  3.0   1.9  
Other (incl. Excess Capital, Group Funding & Corporate Centre)(3)(5)
  841   622   569  
  35.2   47.8  
Total Banking
  36,366   37,092   37,057  
  (2.0)   (1.9)  
Wealth Management(4)
  6,174   5,910   6,105  
  4.5   1.1  
Total ongoing operations
  42,540   43,002   43,162  
  (1.1)   (1.4)  
Total disposed operations
  -   -   40  
  large   large  
Total full time equivalent employees (FTEs)
  42,540   43,002   43,202  
  (1.1)   (1.5)  
Average half year FTEs
  43,064   43,016   43,682  
  0.1   (1.4)  
(1) Full-time equivalent staff include part-time staff (pro-rated) and non-payroll FTE's (ie. contractors).
(2) Acquisition of Hertz Fleetlease Ltd on 1 October 2003 increased Financial Services Australia FTEs by 166 (Australia 37, New Zealand 129).
(3) Includes the impact of growth through global projects (ISI, Basel II and IFRS) of 169.
(4) Acquisition of Plum Financial Services Limited and an increased interest in Advance MLC Assurance Co. Limited (Thailand) increased FTEs by 172 as at 30 September 2003 (Australia 152, Asia 20).
(5) Comparative information in relation to FTEs has been restated to reflect the transfer of technology FTEs in relation to Group-wide projects from Financial Services Australia to Corporate Centre.

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