NAB chairman Ken Henry told the banking royal commission that director's duties should be expanded beyond shareholders to the whole "community", saying their sole focus was the reason people no longer trusted business.
As the royal commission hears evidence about reforms to prevent misconduct in its final week, the former Treasury secretary said it could take a decade for NAB to embed a culture that would restore customer trust.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
