Western Australia is set to lose one of its few retail financial services players with a move by $3.4 billion superannuation player Westscheme to merge with its giant eastern cousin Australian Super to create a $40 billion industry fund.

Western Australia is set to lose one of its few retail financial services players with a move by $3.4 billion superannuation player Westscheme to merge with its giant eastern cousin Australian Super to create a $40 billion industry fund.