May
This is the biggest test for Macquarie since the GFC
It is critical the board does not underplay the huge cultural turnaround that the bank must confront, which could prove tougher than the post-GFC rebound.
April
AMP rates its own reputation among the worst
From Qantas to Rio Tinto to ANZ to Optus, AMP’s board must have a dire view of the company AMP keeps in terms of public standing.
February
Mr Fix-It: The unusual legal practice of Leon Zwier
For decades, Zwier has been the lawyer of choice for Australia’s most powerful moguls. But lately, he’s taken on a very different client.
September 2024
APRA repeatedly warned ANZ on risk and culture failings, letters show
Confidential correspondence shows the regulator told executives almost two years ago that it was “not yet apparent” who would deliver a risk overhaul.
July 2024
Open banking offers a salutary tale
The lesson is that governments trying to regulate their way to a greater bank competition can have anti-competitive effects.
May 2024
Consulting firm fixes are impractical and an overreach
More importantly, they are not necessary to correct a deficiency in the regulation of delinquent behaviour, says the former ACCC chairman.
New NAB boss Andrew Irvine on trust, banker pay and client weddings
Andrew Irvine has inherited a solid strategy, but five weeks into the job he’s not afraid to weigh in on tough issues such as banker bonuses and regulatory creep.
April 2024
Banking royal commission star Rowena Orr joins the bench
Rowena Orr, who came to prominence during the Hayne royal commission, has been appointed to the Victorian Court of Appeal.
We should be glad banks are speaking up
Australia’s big banks are at the coalface of the economy. Governments should be listening when they highlight the need for change.
March 2024
Five years after the royal commission, big banks have their mojo back
But the newfound assertiveness isn’t simply due to the fading of past humiliations. They are increasingly conscious their large size is now a huge asset.
From scandals to Team Australia: a decade of the AFR Banking Summit
The Summit is in its 10th year. We’ve had a courtside seat to the drama as a tarnished sector recovered during COVID.
February 2024
There’s a new monetary order – will it be cruel or kind to our banks?
Much has changed since the global financial crisis and after a decade of low interest rates. Major lenders won’t be able to rely on what worked in the past.
Did Hayne’s shock treatment swing the pendulum too far?
The Hayne royal commission shocked corporate Australia and brought big shifts to banking and wealth. But five years on, unintended consequences remain.
Dutton backs tax cuts | Banking’s property pain | Zuckerberg’s a market hero
Read everything that’s happened in the news so far today.
December 2023
CBA’s Matt Comyn loses his right-hand man, the meticulous David Cohen
Over 15 years at the bank, David Cohen has seen it all. On his retirement, he provides a potted history of CBA’s numerous troubles and its transformation.
September 2023
CBA should suffer highest penalty for $16m underpayment, court told
The Fair Work Ombudsman says maximum fines for the Commonwealth Bank ‘knowingly’ underpaying thousands of staff is necessary to deter other well-resourced employers.
August 2023
Telcos, non-bank lenders spurn demands to fund financial counsellors
Banks, energy retailers, insurers, bookmakers and Telstra have agreed to government requests for industry funding to support indebted customers, but others are holding out.
July 2023
CBA’s former wealth arm settles class action for $100m
If approved by the court, the Colonial First State settlement will be the highest ever obtained by plaintiff law firm Slater and Gordon in a class action.
March 2023
Meet the former bank lobbyist giving life insurance a makeover
The inaugural chief executive of the Council of Australian Life Insurers will draw on the lessons learnt advising banks through the Hayne royal commission.
February 2023
ASIC was almost broken up after the Hayne royal commission
The Morrison government came close to breaking up the corporate regulator under the former chairman James Shipton, after Treasury investigated the idea when it was raised in the final recommendations of the Hayne royal commission.