Thursday, December 12, 2019

Westpac board facing protest vote over money laundering scandal, paedophile links

The board of Westpac will face angry shareholders today as the bank reels from revelations its broke anti-money laundering laws 23 million times and dealt with convicted paedophiles. 

The scandal has already claimed the scalp of chief executive Brian Hartzer and Westpac chairman Lindsay Maxsted is retiring early. 

The Australian Shareholders Association is urging investors to reject Westpac's remuneration report and will oppose the re-election of director Peter Marriott. 

ASA spokeswoman Carol Limmer tells ABC's Peter Ryan investors are angry and bewildered that Westpac's board was unaware of the paedophile links.

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