Aussie banks: a right Royal mess

Misconduct probe sparks board changes and bout of introspection at Big 4

Board table
Knowledge gap: survey finds skillset diversity but not much frontline risk management experience

It’s been a rough year for Australia’s banks. Last April, Ian Narev, chief executive of the nation’s largest lender, Commonwealth Bank of Australia (CBA), departed following probes from several of the country’s regulators into widespread money laundering violations and the mis-selling of payment protection insurance, among other offences.

The scandals sparked a national outcry, and helped prompt a Royal Commission enquiry into misconduct in the banking, superannuation and financial services

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