It’s been almost a year since Brian Hartzer abruptly stepped down as Westpac CEO, amid a blaze of opprobrium triggered by AUSTRAC’s claim the bank had breached money-laundering legislation about 23 million times.
Hartzer, whose wife Georgiana this month purchased a $6.5 million Paddington terrace, had always sold himself as a fairly new-age, inspirational kind of guy. A 21st-century banker, who headed an institution that (supposedly) led the field on every ESG measure. But by the end, he was telling staff that at least Westpac was “no Enron”. A rather ill-advised comparison which, once leaked, helped seal his fate.