Former Westpac CEO Hartzer takes the chair at BeforePay

Former Westpac CEO Hartzer takes the chair at BeforePay

Brian Hartzer, the former Westpac CEO who resigned in the wake of a massive money laundering scandal at the Australian bank, has resurfaced as chairman of salary on demand fintech BeforePay.

BeforePay, which is on course for a public listing later this year, applies a buy now, pay later model to provide users with early access to their wages.

The fintech currently has more than 100,000 active customers in Australia and recently raised a $45 million debt facility with Longreach Credit Investors.

Hartzer resigned from Westpac in November 2019 after presiding over a money-laundering scandal that landed the bank with a record A$1.3 billion fine from the regulator Austrac.

He joins another Westpac alumni at BeforePay in the shape of CEO James Twiss, who was formerly the chief strategy officer at Westpac until April this year.

Speaking of Hartzer, Twiss says: "His strategic capabilities are what we need in a chairman and will add tremendous depth of experience to our board and support the leadership team as Beforepay continues to grow and evolve.

"This week we've completed $100 million in pay advances and continue to grow rapidly. We're heartened to see that the market continues to be very receptive to our product, and we're only just scratching the surface."

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