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Harker had second Samoan investment entity

liam walsh, Neil Chenoweth, liam walsh and Liam Walsh

Updated Oct 14, 2021 – 9.38am, first published at Oct 5, 2021 – 5.00am

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Westpac director Steven Harker, in the spotlight for an offshore superannuation fund, had a second Samoan entity that he used to operate a discretionary trading account through a stockbroker.

The company, Tower Investments Pte Ltd, was set up in 1989 by Singapore trust company Asiaciti. Five years later Mr Harker’s employer, Barclays de Zoete Wedd, set up a super fund for him in Samoa to avoid double taxation, ahead of a two-year transfer to London. Mr Harker says that “well after” the super fund was established, it acquired Tower Investments.

Neil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards.

Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane.