Today
Shayne Elliott’s rented Corolla wasn’t enough for ANZ in the end
The career banker took the top job in 2016, unwinding a failed regional expansion and wowing shareholders. Those shareholders are a bit less wowed now.
- Updated
- Jonathan Shapiro
Yesterday
- Updated
- Executive shake-up
ANZ investors see new chief executive Nuno Matos as a clean slate
The bank appointed the former HSBC wealth boss to succeed Shayne Elliott over internal candidates. The Portuguese banker, 57, will take up the job next year.
- Updated
- Lucas Baird and James Eyers
- Opinion
- Chanticleer
What forced ANZ board to move on Elliott
Facing the prospect of an embarrassing protest vote at next week’s AGM, ANZ’s board is ringing the changes.
- Anthony Macdonald
APRA winds down $43b bank hybrid market, angering investors
The prudential regulator says other forms of capital are safer and make it easier for issuers to respond to future crises without bailing in retail investors.
- Updated
- John Kehoe and Jonathan Shapiro
- Opinion
- Chanticleer
ANZ’s left-field CEO pick piles risk upon risk
A new chief executive with no Australian experience will spend years finishing Shayne Elliott’s signature projects. It’s a perilous sandwich for investors.
- James Thomson
This Month
- Exclusive
- ANZ Bank
ANZ’s Elliott to resign after nine years as chief executive
The career banker arrived at ANZ in 2009 and was appointed to the top job in 2016. His departure is expected to be announced as early as this week.
- Jonathan Shapiro and Kylar Loussikian
- Opinion
- Opinion
Six observations about the cultural failings in ANZ’s markets unit
Disgruntled employees are being interviewed about a problematic workplace culture at the same time as the bank is telling them about their annual bonus.
- Jonathan Shapiro
Architect of Murray inquiry says banks can be agents of growth
David Murray is still railing against a “one-size-fits-all approach” to governance, which he says has forced banks to drop gas clients and let private credit sneak in.
- James Eyers
Banks, insurers told to work harder to prevent financial abuse
A committee chaired by Labor senator Deborah O’Neill has tabled 61 recommendations to reduce the insidious practice.
- James Eyers
- Opinion
- Business People of the Year
Matt Comyn finds his voice – and delivers for shareholders
The CEO has driven the Commonwealth Bank from strength to strength, propelling him on to the 2024 The Australian Financial Review Business People of the Year list.
- James Eyers
CBA hires Treasury deputy as chief economist
Luke Yeaman is the latest hire for the big banks out of the government department or the Reserve Bank of Australia.
- John Kehoe
CBA backs down on withdrawal fee after Chalmers leans on Comyn
Treasurer Jim Chalmers had called the $3 charge for branch withdrawals “unacceptable”. Australia’s largest bank reconsidered.
- James Eyers and John Kehoe
Restaurants warn fee ban will lead to prices to rise
The government’s proposal could see credit card users doubly penalised by paying higher prices, and face an additional surcharge set around 2 per cent.
- James Eyers
ASIC moves to expand its oversight of crypto and digital assets
The corporate regulator’s new guidance outlines more than a dozen examples of how it intends to assess what is in – and out – of financial services laws.
- James Eyers
Labor slams CBA $3 fee as tax on people who use cash
Financial Services Minister Stephen Jones has attacked the bank’s move to force some customers to pay a $3 withdrawal fee for taking out cash over the counter.
- John Kehoe
Bank of Queensland slams rural branch levy as bad policy
Chairman Warwick Negus said larger banks would only get bigger and consumers worse off under Treasury’s proposed $350 million impost on the banking sector.
- Vesna Poljak
CBA shuffles the deck in business banking; jobs go
Street Talk understands the Big Four bank has made three senior roles in the Client Acquisition Team redundant.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Musical chairs at NAB as head of M&A moves into CFO role
A round of internal shifts at NAB has left a gap at the head of its M&A and venture capital unit.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Auld named chief economist at NAB, replacing Oster
Sally Auld will be National Australia Bank’s next economics chief following the retirement of Alan Oster after 32 years in the role.
- Cecile Lefort
- Exclusive
- Jim Chalmers
Banking rift exposed in fight against levy for rural services
The government has rejected a proposal by banks to pause regional branch closures instead of a mooted $350 million levy, as a rift deepens between Commonwealth Bank of Australia chief executive Matt Comyn and other bankers over the plan.
- John Kehoe
