As Westpac chief executive Brian Hartzer's future hangs in the balance, under pressure from the federal government, the bank's angry shareholders are pointing the finger at board risk committee chairman and eminent corporate lawyer Ewen Crouch.

Initial shock and disgust from Westpac's institutional and retail shareholders in the wake of damning allegations of links to financial crimes and human rights abuses is being funnelled into activist action as proxy advisers begin to devise a game plan ahead of the bank's annual general meeting on December 12.