National Australia Bank chairman, Ken Henry and chief executive, Andrew Thorburn have advised they are leaving the big banking group.
In what represents the first major fall-out following release of the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry the bank announced that Thorburn would finish on 28 February while Henry would retire from the board once a permanent chief executive was found.
Current NAB director, Phil Chronican will step to serve as acting CEO.
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Now time for some CBA execs who i see are still reaping millions in salaries, start with their ‘star’ exec Marianne Perkovic who was a hardly remorseful for all they ripped off planning customers. See if a comment against the protected cba gets filtered.
Henry dared to stand up to the reds at the RC. He paid. Terry dared to stand up to the reds at the RC. He paid.
Lawyers made millions out of the RC. ASIC secured 70 millions to simply put five people into AMP and the the big four Banks - essentially admitting Kelly takes no notes when he has lunch with his bank mates. Another hundred million after the RC even though ASIC was found to be incompetent.
If this is not a witch hunt what is? Nearly $300,000,000 in one year for lawyers.
totally agree. There were problems,.. instead of the RC where the only winners are lawyers; get ASIC and APRA to do their jobs. The execs at these places, have to, and had to go , no doubt. They were incompetent and indifferent and their needs to be a cultural change..but if bureaucracies did their job..would have saved tax payers millions..
So the Reds have come out from under the bed and managed to stack the Royal Commission. Have not heard about the Reds for years. So from your take, the Royal Commission was just a witch hunt of the 'good' guys' in the banks, financial services companies, insurers, mortgagors, and maybe financial advice industry.
Pity about Henry going.
Henry had the courage to stand up to Orr and then Hayne pulled the trigger.
It was retribution, the outcome of the RC was too.
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