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The ANZ boss says the derisking of Australia’s very safe banking system is coming at a cost to growth and economic dynamism. A rebalancing is required.
Judo founder Joseph Healy is stepping aside leaving his successor to grow the challenger bank to the scale it promised the market.
Simon Wright will succeed Nicholas O’Kane, the bank’s highest-paid employee, just as commodities trading was expected to slump.
As its customer remediation rolls off, NAB will have capacity to direct hundreds of millions more dollars to improving its IT systems under its new CEO.
The latest results suggest more customers have figured out the banks’ home loan tricks. That’s bad news for the banks.