One year after the royal commission, banks haven't fixed executive pay packets

Press/Media: Other

Description

Today marks a year since the formal conclusion of the banking royal commission and the financial horror stories it coughed up day after day.

Industry experts say shining a spotlight on the unethical, and at times, illegal behaviour plaguing the sector has helped reshape it for the better.

However they're also concerned about how little is being done to reign in obscene executive pay packets - especially when Commissioner Hayne himself admitted chasing bonuses had clouded many executives' judgement.

Fix that problem, they say, and you'll see real, long-lasting positive change in Australia's banking sector and the wider economy.

Subject

One year after the royal commission, banks haven't fixed executive pay packets

Period3 Feb 2020

Media contributions

1

Media contributions

  • TitleOne year after the royal commission, banks haven't fixed executive pay packets
    Degree of recognitionInternational
    Media name/outletABC PM
    Media typeTelevision
    Duration/Length/Size4 minutes 28 seconds
    CountryAustralia
    Date3/02/20
    Description
    Today marks a year since the formal conclusion of the banking royal commission and the financial horror stories it coughed up day after day.

    Industry experts say shining a spotlight on the unethical, and at times, illegal behaviour plaguing the sector has helped reshape it for the better.

    However they're also concerned about how little is being done to reign in obscene executive pay packets - especially when Commissioner Hayne himself admitted chasing bonuses had clouded many executives' judgement.

    Fix that problem, they say, and you'll see real, long-lasting positive change in Australia's banking sector and the wider economy.
    Producer/AuthorDavid Taylor & Linda Mottram
    URLhttps://www.abc.net.au/radio/programs/pm/banks-need-to-address-executive-pay-packets,-finance-experts-say/11925254
    PersonsElizabeth Sheedy