1. Australia's Westpac Hires Former Barclays Chairman to Tide Over Crisis

    Yahoo! Finance BoardNews
    Australia's Westpac Hires Former Barclays Chairman to Tide Over Crisis

    (Reuters) - Australia's Westpac Banking Corp on Thursday named a former Barclays boss as chairman, entrusting veteran banker John McFarlane to help steer it through the fallout of a massive money-laundering scandal...

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    1. He has significant Australian banking experience, significant British banking experience, and the Australian market knows him well, so I think it will be received positively.
    2. My focus initially will naturally be on resolving the company's current issues but equally important, to position it as quickly as possible for long-term success.
    3. He will shake up the executive ranks, and he won't hurry in appointing a CEO, he will back his own ability to be an executive chairman.

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