Veteran banker to chair Westpac

Original article by John Durie, Joyce Moullakis
The Australian – Page: 15 & 16 : 23-Jan-20

Former ANZ Bank CEO John McFarlane is set to succeed Lindsay Maxsted as Westpac’s chairman. Maxsted will step down ahead of schedule in response to the bank’s breach of anti-money laundering laws. Sources have indicated that McFarlane was chosen due to factors such as his knowledge of the retail banking sector, his reputation as a ‘change agent’ and the fact that he has no prior links to Westpac. The major bank has yet to appoint a permanent successor to former CEO Brian Hartzer.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE

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