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Reuters
Reuters
Business
Paulina Duran and Scott Murdoch

Australia's Westpac hires 'Mack the knife' McFarlane to chair crisis-hit bank

A pedestrian looks at his phone as he walks past a logo for Australia's Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray.

Australia's Westpac Banking Corp <WBC.AX> named a former Barclays <BARC.L> boss as chairman on Thursday, entrusting veteran banker John McFarlane with the task of steering it through the country's biggest money-laundering scandal.

The bank, Australia's second largest by market capitalisation, said the 72-year-old would become a non executive director in February before taking the chairman's role in April.

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