Embattled Westpac announced Tuesday the appointment of Les Vance to the new role of group executive, financial crime, compliance and conduct. Vance will be responsible for overseeing the group’s financial crime, compliance, and conduct management.
The appointment comes one month after the Australia-based financial institution disclosed it had set aside AUS$900 million (U.S. $570 million) for a potential fine with Australian enforcement authorities related to a money-laundering scandal and for allegations of facilitating child exploitation in the Philippines and Southeast Asia.
