Very true!
Now consider this: Westpac Investor's $73bn Losses Still Accumulating! Why?
Under Maxsted-King (& Hartzer until He got the boot!) Reign, WBC Shares Have Tanked from $38.66 (April 2015) to $18.12 (13/3/2020), that’s $20.54/share or 53%...some $73 Billion! Systemic & Endemic Unfettered Greed-Based Issues-Policies, People Procedures, Systems-Identified Within Westpac (ASX:WBC) Way Back In 2015-16 Exist In 2020. More So.
CEO Hartzer's Sign-on Fee, Pay Structure & Bonuses Were Based On Lying To, Cover-ups, Rorting Customers.
More Proof?
1st, 26 Investors Class Actions Are Underway: 2 In OZ; 24 In USA.
2nd, Regulator AUSTRAC Federal Court Case Resumes Mar-Apr.
3rd, Westpac's Head Of Customer Advocacy Dept Is Highly Questionable In Terms Of Efficacy! Ahern's Appointment-"Brainchild" Of Ex-CEO Brian Hartzer;- Latter Facing 26 Investors Class Actions: Fraud, Violations Of US Securities Laws.
For 100% of Aussies with Super, WBC has failed to deliver!
Just look at your Super Fund.
WBC Share Price is a reflection of Westpac's Culture, People, Procedures, Systems Failures for a long period! From Directors, Down...
IMO, WBC SP will continue on its Downward Spiral to Sub-$14...or possibly worse...until there's a Clean-out of Board & Management!
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