Westpac risk and compliance committee member Anita Fung has joined the growing list of boardroom departures in the wake of the bank’s money laundering and child exploitation scandal.
The bank confirmed on Friday Ms Fung would retire from the board on March 31, the same leave date given for its outgoing chairman Lindsay Maxsted.
Their retirements follow the exit of former chief executive Brian Hartzer in November, who accepted ultimate accountability for the bank’s alleged 23 million breaches of money laundering laws, and failure to properly monitor payments potentially linked to the streaming of child exploitation.
Ms Fung retains her role as a member of Westpac’s Asia Advisory Board.
Westpac’s risk and compliance committee head Ewen Couch is already gone, choosing not to seek re-election at the December 12 AGM, when Westpac was roasted by furious shareholders and handed a second strike on executive pay.
Mr Maxsted in December admitted the scandal-hit bank did not act quickly enough to implement “robust” monitoring of money transfers potentially linked to child abuse.
Former ANZ boss John McFarlane was last month named Westpac chairman-elect.