ANZ’s trading team allegedly manipulated a $14 billion bond auction in 2023;
The bank has admitted it submitted misleading trading figures to the government;
There is an internal investigation into workplace misconduct in the trading team.
The ANZ board may be forced to take action against chief executive Shayne Elliott and other senior managers over the misleading trading data submitted to the federal government and investigations into its workplace culture.
Mr Elliott said on Thursday he had delivered a “personal apology” for misleading the Australian Office of Financial Management about its bond trading activity, and the bank was now investigating whether it should have reported the issue to the regulator well before it eventually did.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
