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Ex-Westpac boss Hartzer joins Australian startup Reejig as chairman -Breaking

© Reuters. FILE PHOTO Westpac Bank CEO Brian Hartzer addresses the media at its interim results conference held in Sydney (Australia), May 8, 2017. REUTERS/Jason Reed

(Reuters) – Reejig, an Australian startup, announced on Thursday that Brian Hartzer, former Westpac boss and now chairman has been appointed. Hartzer was forced out of his position in 2019 due to a money laundering scandal.

Harzer is now the chairman of fintech Beforepay and consults with several other startups. This keeps Harzer’s profile lower than it was when he ran Westpac between 2015-2019, Australia’s third largest lender in terms of market value.

To settle the suit that Westpac was accused of having enabled millions of illegal payments and closing its most dark chapter, it had to pay a record A$1.3billion ($968.11million) in damages.

Hartzer assumes the role of chairman at Reejig after a A$6million Series A financing round, led by Skip Capital. Skip Capital is co-founded by Scott Farquhar and Kim Jackson.

Siobhan Svage, Reejig’s chief executive officer and cofounder said that his experience as a leader in some of Australia’s most complicated and large organisations would be very valuable.  

In 2019, the startup, which was established in artificial intelligence uses data to create skills profiles for people. Hartzer said that he will be working closely with investors.

($1 = 1.3428 Australian dollars)

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.