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.