The Australian Shareholders Association will vote against the re-election of Westpac director Peter Marriott and the bank's remuneration report at the upcoming annual general meeting.
The association, which represents more than 2000 Westpac shareholders with a proxy value of $254.9 million, will make its voice heard at a potentially volatile December 12 gathering as the bank seeks to quell investor anger over the AUSTRAC money laundering scandal.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
