Westpac Bank Corp's former high profile chief executive Gail Kelly admitted she made too many decisions based on "averages and trends", which obscured looming risks around misconduct, and wishes she had done more to identify poor lending practices at Australia's second-largest bank.
In her first public comments on the Hayne royal commission, which wrapped up its hearings on Friday, Ms Kelly described it as "confronting – more confronting than I thought it was going to be at the start".
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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
Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
