Westfield Group was an Australian shopping centre company that existed from 1960 to 2014, when it split into two independent companies: Scentre Group, which now owns and operates the Australian and New Zealand Westfield shopping centre portfolio; and Westfield Corporation which owns and operates the UK, Europe and US portfolio. Westfield Group undertook ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities. The multinational company was listed on the Australian Securities Exchange and had interests in and operated one of the worlds largest shopping centre portfolios with investment interests in 103 shopping centres across Australia, the United States, the United Kingdom, New Zealand, Italy, Croatia and Brazil, encompassing around 23,000 retail outlets and total assets under management in excess of A$63 billion. The Westfield Group had origins in the western suburbs of Sydney. The first development was named "Westfield Place", and opened in July 1959 in Blacktown. The name Westfield is derived from "west" related to the West Sydney location, and "field" due to having located on subdivided farmland. The centre was opened by John Saunders and Frank Lowy.