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The Impacts of the Global Financial Crisis ('GFC') Continue to Present an Interesting Challenge for Company Secretaries to Navigate.

Abstract

The impacts of the Global Financial Crisis (“GFC”) continue to present an interesting challenge for company secretaries to navigate. In the wake of the GFC, an ever-changing and uncertain corporate governance landscape has evolved, resulting in the continuing rise in prominence of the role of a company secretary and an increasing focus by boards on organisational corporate governance practices. This paper will explore how the current climate presents an opportunity for company secretaries to showcase the value that company secretarial teams can bring to organisations through corporate governance thought-leadership and the adoption of innovative approaches to company secretarial practice.

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Authors

Portrait image of Tim Hartin
Tim Hartin
Group Company Secretary, Westpac Banking Corporation, Australia

Tim Hartin has been Group Company Secretary of Westpac Banking Corporation since July 2011 and is responsible for the management and oversight of the Westpac Banking Corporation Board and over 250 of the Westpac Group’s subsidiary boards. Tim joined Westpac in 2006 as Counsel (Corporate Core) and later held the role of Head of Legal (Risk Management & Workouts). Before joining Westpac, Tim was a Consultant with Gilbert + Tobin, specialising in providing corporate advisory services to listed companies and was a transactional lawyer for a number of years in Herbert Smith’s corporate, and corporate finance division (London) and with Henderson Boyd Jackson W.S. (Edinburgh). Tim’s extensive experience, gained in-house and advising Australian, UK and international listed and unlisted clients, enables him to advise on a diverse range of corporate matters including corporate law and corporate governance, mergers and acquisitions, joint ventures, capital markets, corporate restructures, risk management, compliance and banking and financial services. Tim is an international lawyer and company secretary being a triple qualified solicitor in Scotland, England & Wales and Australia. He holds a number of tertiary qualifications, including a LLB (Hons) with options in French Honours and a Diploma of Legal Practice (Aberdeen University).

Portrait image of Rachel Saffron
Rachel Saffron
Company Secretary, Westpac Banking Corporation, Australia

Rachel Saffron is a Company Secretary, responsible for the administration of the Westpac Banking Corporation’s superannuation and fund management entities. Rachel also acts in a pro bono capacity as the Secretary of the Commando Welfare Trust and represents Westpac as a member of the Women in Finsia Committee. Rachel joined Westpac in 2014, having previously acted as a Company Secretary in the wealth management divisions of the Australia and New Zealand Banking Group and National Australia Bank. Rachel also completed a graduate program at Munich Reinsurance. Rachel is an admitted solicitor, holding a current practising certificate in New South Wales. She holds a Bachelor of Arts (Honours) and Bachelor of Laws from the Australian National University and a Graduate Diploma of Legal Practice from the College of Law. During her time at university Rachel was selected to complete academic exchange at the University of California, Berkeley.

Portrait image of Suzanna Dabski
Suzanna Dabski
Company Secretary, Westpac Banking Corporation, Australia

Suzanna Dabski is a Company Secretary in Westpac Banking Corporation’s Group Secretariat. Suzanna is responsible for overseeing the lodgement of the Group’s ASX and overseas exchanges announcements, the provision of advice in respect of exchange and Listing Rules requirements, and corporate governance matters generally. Suzanna is also responsible for the administration of the Group’s Insurance and Advice and Private Wealth entities, St.George Foundation Limited and the Bank of Melbourne Advisory Board. Suzanna joined Westpac in 2012, having worked previously in PricewaterhouseCoopers Legal’s Entity and Corporate Governance division and prior to that at ASX Limited as a Senior Adviser in the ASX Listings Department. Suzanna is an admitted solicitor, holding a current practising certificate in New South Wales. She has a number of tertiary qualifications, including a Bachelor of Business Administration with Bachelor of Laws, and Honours in Business degree from Macquarie University, Sydney, a Graduate Diploma of Legal Practice from the College of Law and a Master of Laws from The University of Sydney.

Companies

Westpac Banking Corporation

Westpac is Australia's oldest Bank. Westpac has branches and affiliates throughout Australia, New Zealand and the Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore. As at 31 March 2008 the Westpac Group employed approximately 29,000 people in Australia, New Zealand and around the world. As at 31 March 2008, Westpac Banking Corporation had global assets of $402 billion. Westpac is ranked in the top 10 listed companies by market capitalisation on the Australian Securities Exchange Limited (ASX).

Westpac Banking Corporation logo

Westpac Banking Corporation

Westpac is Australia's oldest Bank. Westpac has branches and affiliates throughout Australia, New Zealand and the Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore. As at 31 March 2008 the Westpac Group employed approximately 29,000 people in Australia, New Zealand and around the world. As at 31 March 2008, Westpac Banking Corporation had global assets of $402 billion. Westpac is ranked in the top 10 listed companies by market capitalisation on the Australian Securities Exchange Limited (ASX).

Westpac Banking Corporation logo

Westpac Banking Corporation

Westpac is Australia's oldest Bank. Westpac has branches and affiliates throughout Australia, New Zealand and the Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore. As at 31 March 2008 the Westpac Group employed approximately 29,000 people in Australia, New Zealand and around the world. As at 31 March 2008, Westpac Banking Corporation had global assets of $402 billion. Westpac is ranked in the top 10 listed companies by market capitalisation on the Australian Securities Exchange Limited (ASX).

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