November 26 2019
Two top executives at Westpac (WBK), one of Australia’s biggest banks, are out after the company was hit with extensive claims that it had systematically allowed money laundering on its watch.
The company announced Tuesday that CEO Brian Hartzer will step down in the wake of allegations that the bank had violated money laundering and terrorism financing regulations tens of millions of times. Lindsay Maxsted, who serves as chairman of the board, will also move up his retirement to the first half of next year.
