ANZ bond scandal hits Shayne Elliott’s bonus, with all staff at risk

Jonathan Shapiro, Lucas Baird and James Eyers

Nov 8, 2024 – 4.21pm

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ANZ chief executive Shayne Elliott has lost half of his cash bonus amid a bond trading and workplace conduct scandal that has engulfed the bank and prompted probes by the corporate and prudential regulator.

Unveiling a $6.7 billion cash profit for the year to September 30 on Friday, ANZ said Mr Elliott’s take-home pay would fall from $4.6 million to $4.1 million, with his short-term bonus cut from $2.3 million to $1.2 million.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.

Lucas Baird is a journalist based in The Australian Financial Review's Sydney office.

James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years.