Individual AMP executives are preparing for the possibility of facing criminal charges over the billion-dollar 'fees for no service' scandal, the company's lawyer said this morning.
Chief executives are increasingly nervous about Australia's economic prospects, with a quarter expecting business conditions to deteriorate this year, according to a closely watched survey.
A well-written, well-timed corporate survey can provide insights into workplace issues and employee satisfaction. But employers be warned, staff and customers soon see through a survey that smacks of a PR stunt, write Peter Holland and Tse Leng Tham.
AMP's new boss Francesco De Ferrari says he has not worked in an organisation that has not made mistakes, but the test for his tenure will be how quickly the company fixes its errors.
After nine months of damning evidence of misconduct and malpractice, the final fortnight of hearings neatly encapsulated the banking royal commission, especially the starkly contrasting evidence of NAB's CEO and chairman.
The banking royal commission is in its second-last day of public hearings, with ANZ boss Shayne Elliott continuing to answer questions about the bank's pay practices and handling of customer compensation.
The banking royal commission continues its grilling of bank bosses, with AMP's Mike Wilkins to be followed by ANZ chief executive Shayne Elliott.
National Australia Bank chairman Ken Henry admits the bank spent around three years almost permanently in the "red" zone for potential compliance breaches in the period when fees-for-no-service became apparent.
Commonwealth Bank chairman Catherine Livingstone faces intense pressure at the banking royal commission over the company’s payment of executive bonuses even as scandals rocked the institution.
The Commonwealth Bank's chief executive and chairman will be the first bosses to take the stand as the banking royal commission questions the culture and governance of Australia's financial institutions.