A major audit of ANZ’s markets division has uncovered bullying, substance abuse and managers turning a blind eye to cultural failings, warning these issues could extend across the company’s retail bank.
But investors hope that ANZ’s incoming chief executive, Nuno Matos, will have a better chance of repairing broken relationships with regulators and overhauling trading teams after the company came clean about its cultural issues and reached a settlement with the banking watchdog.
Source: https://www.afr.com/companies/financial-services/apra-lashes-anz-s-risk-culture-raises-capital-penalty-to-1b-20250403-p5loqm