NAB Australia’s worst big bank risk manager

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Via Banking Day:

Bounding along in the lead of “The Australian crisis” National Australia Bank has owned up to a litany of defects and an overload of corrective work around conduct and operational risk.

Crisis: there is no hyperbole this time, it is a label selected by the industry thinktank the Group of 30 for its report “Banking Conduct and Culture: A Permanent Mindset Change.”

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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.