Margin Call: Westpac’s Brian Hartzer and Lindsay Maxsted visit shadow Treasurer Chris Bowen
Westpac’s CEO Brian Hartzer and chair Lindsay Maxsted have made a rare combined appearance in Canberra to plead their case as the major parties prepare their legislative responses to Kenneth Hayne’s royal commission report
One of their destinations: almost Treasurer Chris Bowen’s office.
The Westpac double act — perhaps the most formidable right now in Big Four banking — are also visiting the office of the actual Treasurer Josh Frydenberg.
There’s plenty to talk about. Along with what the bank is doing after Hayne, discussions are underway about the future of mortgage broking and default super.
Westpac shareholders will be happy to learn their duo are getting on with business.
It’s a similar story at CBA. The bank’s boyish CEO Matt Comyn returned for a second trip to Canberra this parliamentary sitting fortnight in which he has meet with the offices of Bowen and Frydenberg, farewelled national senator John “Wacka” Williams, and wined and dined the parliamentary press gallery at the Ottoman restaurant (where else?).
Always eager, always keen, ANZ’s Shayne Elliott has pipped the other banks by releasing the beginnings of his bank’s royal commission response, while his newish government relations recruit Karyn Freeman (previously a staffer in Frydenberg’s ministerial office back in his energy days) has been walking the halls in Canberra.
It’s a messier story over at NAB.
Page 411 of Hayne’s opus has reduced the place to a headless chook in pinstripes.
Sure, its government relations team Philippa King (the former Mike Baird staffer who has had an exciting first few weeks at the bank) and Canberra regular Aron Whillans have been doing the rounds in parliament.
But, as you might imagine, things are a bit unfocused.
For now, the bank has three CEOs: the recently impoverished Andrew Thorburn, the nominal acting CEO Gary Lennon and the guy who is actually in charge, Phil Chronican.
How long till we spot that compact gym junkie in the Aussies coffee crowd in Parliament House?
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