During a hearing in front of the Australian Parliament on Friday, ANZ CEO Shayne Elliott said that he and senior executives would take accountability for the "reputational damage" caused by a number of scandals currently facing the bank.
"People are asking questions about the way we do business and treat customers – that is hurting our reputation," Elliott said. "We have suffered reputational damage. That is on me. I accept that there will be consequences." The bank has faced scrutiny from all sides, as it is under investigation for alleged market manipulation during a $14 billion government bond sale. It has also admitted to providing inflated bond turnover data to regulators, and is currently reviewing the workplace culture that has allowed these issues to propagate.
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