Macquarie Group chairman Glenn Stevens says the investment bank’s board will hold management’s “feet to the fire” over a series of compliance and risk management failures that have damaged the group’s reputation for prudence and resulted in a pay cut for its top executive.
On Friday, Stevens directly addressed a series of sanctions imposed on Macquarie by the corporate regulator over the past 18 months as the bank released a solid annual result and said it remained confident it could negotiate global uncertainty affecting markets.
Loading...
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
