Chanticleer
Westpac confession can drive real change
By releasing a harshly critical self-assessment of its culture and governance, Westpac has created a real catalyst for change.
Australia's big banks are too big to fail. Are they also too big to manage?
That's the question posed by Westpac's self assessment of its culture, governance and accountability, which it released on Thursday after being ordered by the prudential regulator to hold an extra $500 million in capital because of its failings in this area.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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