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Westpac Says "AUSTRAC's Claims Show That We Must Change Way We Work"
Westpac Says Board Is Deeply Distressed About Issues Raised By AUSTRAC
Westpac Banking Completes Share Purchase Plan
Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services. The Company's segments include Consumer Bank, Business Bank, BT Financial Group (BTFG), Westpac Institutional Bank (WIB) and Westpac New Zealand. The Company has branches throughout Australia, New Zealand, Asia and in the Pacific region. The Company through its division offers its services under various brands, such as Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands.
L 18 275 Kent St
Peter Francis King
Acting Chief Executive Officer, Managing Director
Chief Financial Officer
Lyn Elizabeth Cobley
Chief Executive - Westpac Institutional Bank
Chief Executive of Business division
Chief Executive Consumer
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Westpac Banking Corp <WBC.AX> on Thursday became the biggest Australian company to have shareholders vote down its executive pay for a second year, at a marathon annual meeting dominated by investor outrage over a child exploitation payments scandal.
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Shareholders of Australia's Westpac Banking Corp voted on Thursday against the company's executive pay plans for a second year running, as the bank reels from a money laundering scandal.
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Westpac Banking Corp, grappling with a money-laundering scandal and accusations of enabling child exploitation payments, could see angry investors vote on Thursday against its proposals on executive pay and the re-election of a long-serving director.
Westpac Banking Corp <WBC.AX> said on Tuesday it had refunded A$68 million ($46.14 million) to shareholders who sought to withdraw from a share purchase plan after a lawsuit accused it of millions of money laundering breaches.
Australia's second largest lender, Westpac Banking Corp, on Tuesday said it had refunded A$68 million ($46.14 million) to shareholders who sought to withdraw from a share purchase plan after a lawsuit accused it of breaches of money laundering laws.
Australia's Westpac Banking Corp <WBC.AX> faces a showdown with investors at its annual meeting this week, seeking to hold back an avalanche of outrage over a money laundering scandal that includes accusations of enabling child exploitation payments.
Australia's No.2 bank Westpac Banking Corp <WBC.AX> on Monday made its first court appearance for a case where it is accused of 23 million alleged breaches of anti-money laundering laws, and said the next hearing was scheduled for late-February.
Australia's Westpac Banking Corp said on Monday that a court had adjourned proceedings relating to alleged 23 million breaches of anti-money laundering laws by the lender to late February or early March next year.
Australia's banking watchdog is weighing what further action might be needed to address the money-laundering scandal at Westpac Banking Corp, the agency's head said on Monday.
Australia's Westpac Banking Corp <WBC.AX> offered to refund people who bought new shares weeks before a lawsuit accusing it of millions of breaches of money laundering laws, a move some investors said was to fend off criticism about its transparency.
Australian lender Westpac Banking Corp said on Thursday it would let investors withdraw their share purchase applications filed prior to the money laundering allegations made by financial crime watchdog AUSTRAC on Nov. 20.
Australia's central bank is likely to cut interest rates twice next year, taking the cash rate to 0.25% by June 2020, and then introduce quantitative easing (QE), Westpac Banking Corp said on Wednesday in a change to its house forecasts.
Two of Australia's top shareholder proxy advisers on Wednesday urged investors to vote out more directors of Westpac Banking Corp <WBC.AX> after a money-laundering scandal claimed the CEO and chairman of the country's No.2 retail bank.
Westpac Banking Corp said on Wednesday it now expected the Reserve Bank of Australia to cuts rates twice next year, taking the cash rate to 0.25% by June 2020, and believes quantitative easing (QE) will be introduced later that year.
* Proxy adviser CGI Glass Lewis calls for director Marriott to go
Australia's Westpac Banking Corp lost a bid to supply loans to a government home-deposit assistance scheme in a blow to its main income generator as it battles a money-laundering scandal, The Australian newspaper reported on Wednesday.
The chief executive of Australia's Westpac Banking Corp stepped down on Tuesday over a money laundering scandal involving child exploitation, just a day after he told staff it was "not a major issue" and that he intended to stay on.
Australian shares rose for a third session on Tuesday, boosted by a lift in Westpac Banking Corp's stock after its chief executive stepped down amid a money laundering scandal.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.