There is concern over the growing influence of non-regional players in decision making at the regional bank.
Articles on Bank governance
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Evidence before the royal commission suggests Australian bank boards have been overpaid, underskilled and understaffed compared with those overseas.
The World Bank’s original governance arrangements have changed much more slowly than the scale and nature of its operations.
Proceedings at the banking royal commission suggest if it isn’t in the minutes of a board meeting, the board didn’t consider it. It makes the role of the company secretary critical.
Pressure to meet ever-higher performance targets can lead to misconduct of the sort exposed by the royal commission. Targets need to operate within a framework of ethical governance to avoid this.
The Commonwealth Bank has been given responsibility to fix its own management mess. Regulators could have done a lot more.
Top contributors
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Senior Lecturer, RMIT University
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Industry Fellow, Corporate Governance & Senior Lecturer, Swinburne Law School, Swinburne University of Technology
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Professor, QUT Business School and research leader Accounting for Social Change research team, Queensland University of Technology
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Lecturer, Queensland University of Technology
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Professor/Senior Research Fellow, Centre for Advancement of Scholarship, University of Pretoria
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Professor of Finance & Deputy Head of School, Wits Business School, University of the Witwatersrand
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University