Westpac's Maxsted spends six hours in stocks at AGM

Westpac's Maxsted spends six hours in stocks at AGM
Jenny Ruth
Westpac chair Lindsay Maxsted spent more than six hours responding with mea culpas as angry shareholders fired questions at him yesterday.The bank's annual meeting was village justice in a modern-day corporate setting, with Maxsted in the stocks.Shareholders were angry about accusations lodged by Australia's anti-money laundering agency AUSTRAC last month accusing Westpac of processing more than 23 million transactions in breach of anti-money laundering and counter-terrorism finance laws, including facilitating transactions enabling child explo...

More Finance

NZ insurance firm Omni bought by UK giant Howden
Finance

NZ insurance firm Omni bought by UK giant Howden

Howden has been on a shopping spree in NZ over the past few years.

John Anthony 17 Oct 2025
New open-banking regulations confirm phased Dec 1 start
Finance

New open-banking regulations confirm phased Dec 1 start

Open-banking regulations confirm Dec 1 start for biggest banks, prohibit fees and levies.

Staff reporters 16 Oct 2025
Sharesies unleashes crypto coins on platform
Finance

Sharesies unleashes crypto coins on platform

The average spend during the beta launch has been about $1,000.

Gregor Thompson 15 Oct 2025
Otago a lukewarm jewel of economic temperature: survey
Finance

Otago a lukewarm jewel of economic temperature: survey

An economic thermometer reveals a cool-to-cold mood hanging over NZ, with Otago lukewarm.

Staff reporters 15 Oct 2025