Instead of his head, Ken Henry gives us Mike Baird

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There’s no business like the banking business, via The Australian:

NAB’s head of wealth Andrew Hagger will exit with redundancy payout of up to $796,000, as the highest-profile casualty so far of the banking royal commission.

Mr Hagger, who has trousered more than $20 million over his decade at the bank, agreed to fall on his sword at the weekend after his evidence to the banking royal commission over his dealings with the corporate regulator during NAB’s fees-for-no-service scandal were lashed by counsel assisting, Michael Hodge QC.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.