Wespac names new chairman

SYDNEY: Westpac has named veteran banker John McFarlane as its next chairman as it confronts the fallout from a massive money laundering scandal revealed last November.
McFarlane is a former chief executive of the ANZ Bank and was chairman of British bank Barclays until last May.
More than 23 million suspected breaches of anti-money laundering laws, brought by the financial intelligence agency AUSTRAC, forced the resignation of Westpac chief executive Brian Hartzer and prompted current chairman Lindsay Maxsted to bring forward his retirement.
In a statement to the ASX, Maxsted said his successor’s 44 years’ experience would be invaluable. – ABC