8chan/8kun QResearch Posts (1)
#7298311 at 2019-08-01 21:06:18 (UTC+1)
Q Research General #9338: Domestic Durka Durka Edition
Secret interviews reveal risky business for NAB's top executives
A massive leak of documents has prompted questions about how close the nation's big banks are to their auditors.
A massive leak of documents from inside National Australia Bank reveals what its top executives and hand-picked consultants really think about its ability to look after its customers.
It was the beginning of winter 2018 and National Australia Bank was reeling from stunning revelations in the banking royal commission about its shoddy treatment of customers and a foot-dragging approach to compensating customers.
NAB chairman Ken Henry, still five months off his disastrous commission appearance, was in a meeting room at the bank's head office with senior staff from consultants EY (formerly Ernst & Young).
They were there to talk risk - more specifically the NAB board's appetite for it.
The EY team needed to know what Henry thought so it could help the bank prepare a report, required by the Australian Prudential Regulation Authority (APRA), that would assess NAB's performance on risk management and culture.
Startlingly, the chairman said he was "confident" the bank was still selling products that would trigger compensation for customers in the future. Confidential minutes of the interview said he "highlighted an example of SMSF [self managed super fund] borrowing to invest in managed funds".
The minutes of that June 13, 2018, interview form part of an extraordinary trove of documents leaked to the Sydney Morning Herald and The Age by a whistleblower who felt the royal commission had glossed over important problems.
Underlining the whistleblower's concern was that much of what was discovered in that review, including what Dr Henry and others said in meetings with EY, did not make it into EY's draft report.
Nor did a raft of other detail about poor systems and governance. It is not clear if the final report contained any of this information.
https://www.smh.com.au/business/banking-and-finance/secret-interviews-reveal-risky-business-for-nab-s-top-executives-20190801-p52czf.html
8chan/8kun QResearch AUSTRALIA Posts (3)
#8322219 at 2020-03-05 05:21:38 (UTC+1)
Q Research AUSTRALIA #7 - FIRE & FURY Edition
Resignations in the news
Mike Baird privately rules out return to politics after quitting NAB
Former NSW premier Mike Baird has told associates he has no intention of returning to politics after stepping down as chief customer officer of the National Australia Bank after three years at the lender.
Mr Baird joined NAB six weeks after stepping down from state politics in 2017 to lead the institutional arm of the bank and moved to consumer banking the following year. The bank said in a statement to the ASX on Thursday morning Mr Baird will leave the role on April 15 and take a break before considering new opportunities.
Mr Baird stood by NAB as its reputation took a hit during the banking royal commission, including harsh criticism of former chief executive Andrew Thorburn and chairman Ken Henry in commissioner Kenneth Hayne's final report.
Mr Baird was rumoured to be among the candidates for the chief executive role after Mr Thorburn's departure following the commission's scathing findings, but the bank eventually tasked former Commonwealth Bank retail boss Ross McEwan with rebuilding its battered reputation as its new CEO.
It was reported the timing hadn't been right for Mr Baird to spend the necessary time away from Sydney as the leader of the Melbourne-based lender, but some observers also expressed doubts about his ability to climb to the top, saying he lacked the operational experience to lead a big four bank.
https://www.smh.com.au/business/banking-and-finance/mike-baird-resigns-from-national-australia-bank-20200305-p5471l.html
—
Mystery over Northern Territory tourism chief executive Simonne Shepherd's sudden resignation
THE chief executive of the Territory's Tourism and Culture department resigned abruptly yesterday.
Simonne Shepherd advised staff in an email that she would walk away from the job on March 20.
A government statement said Ms Shepherd, who maintained a very low profile, was leaving the Territory for family reasons.
However, mystery surrounds whether there were additional reasons behind the departure.
The NT News understands many in the industry had been lobbying for a change within the Tourism department due to issues which can not be revealed for legal reasons.
The NT News is not suggesting the push for change related specifically to Ms Shepherd's role.
The Territory is also on the lookout for chief executives for the education and housing departments.
The CEO of NT Major Events, Tim Watsford, has also resigned and is due to leave in April.
Current tourism department deputy CEO Andrew Hopper will initially act in the role of chief executive following Ms Shepherd's departure.
https://www.ntnews.com.au/business/northern-territory-tourism-chief-executive-simonne-shepherd-resigns/news-story/9421809579afcdab13c98d9e0d9aa27e
#5076366 at 2019-02-08 07:26:42 (UTC+1)
Q Research AUSTRALIA #2
Fallout at NAB over Banking Royal Commission Report
Sourced from QRes#6468 >>5064939
'Deeply sorry' NAB chair and CEO both resign after horror week
... of course they are (deeply sorry)
... sorry they got caught .. kek
National Australia Bank has been plunged into turmoil, with chairman Ken Henry and chief executive Andrew Thorburn both resigning in the wake of blistering criticism from the banking royal commission and a deepening crisis over alleged rorts by a former senior staffer.
After a horror week for the banking giant, it announced on Thursday night that Phil Chronican, a board member, would act as chief executive from next month, with Mr Thorburn set to leave his post at the end of February.
Dr Henry said he would retire once the bank had appointed a permanent chief executive, which could take "some months".
Dr Henry, a former Treasury Secretary, said he and Mr Thorburn were "deeply sorry" over the bank's failure to live up to customer and community expectations.
The royal commission's final report on Monday singled out Mr Thorburn and Dr Henry for harsh criticism, saying they had not learnt the lessons from past misconduct, particularly in NAB's wealth management arm that had charged $100 million in fees without providing services in return.
(cont)
https://www.smh.com.au/business/banking-and-finance/nab-ceo-and-chairman-resign-20190207-p50wbx.html
'Eroding consumer trust': ASIC takes NAB to court over fees for no service
National Australia Bank has been accused of misleading customers and breaching financial services laws, in a new lawsuit from the corporate watchdog that alleges it charged hundreds of thousands of superannuation members about $100 million for services that were not provided.
In a fresh blow to the bank after its gruelling appearance at the royal commission last month, the Australian Securities and Investments Commission (ASIC) on Thursday launched the action against two NAB-owned trustees, which are meant to look after super fund members' interests.
The case is ASIC's first action over an industry-wide scandal known as "fee for no service" that has cost consumers about $1 billion. The watchdog is expected to take further action against other major financial institutions over the issue.
(cont)
https://www.smh.com.au/business/banking-and-finance/asic-takes-nab-to-court-over-fees-for-no-service-20180906-p50272.html
Andrew Thorburn's former chief of staff (Rosemary Rogers) allegedly rorted $500k for a holiday
The former chief of staff of embattled National Australia Bank boss Andrew Thorburn allegedly rorted more than $500,000 from the NAB to fund an extravagant overseas family holiday that included first class travel and luxury resorts.
The Age and the Sydney Morning Herald have confirmed that police are investigating whether shoddy oversight inside Mr Thorburn's office enabled and emboldened his former chief of staff, Rosemary Rogers, and a corporate event contractor to pull off a suspected multi-million dollar fraud.
Ms Rogers' overseas jaunt, which included multiple destinations and six other close family members, is the most egregious transaction being probed by NSW detectives, according to NAB sources.
Two NAB insiders have said that they both had concerns about a culture of largesse and extravagant spending that became normalised inside Mr Thorburn's office and which allegedly centred around Ms Rogers and contractor, the Human Group.
The insiders described several offsite strategy meetings for NAB executives at luxury resorts in the Wolgan Valley, where guests arrived via helicopter, and on Kangaroo Island in South Australia. One NAB insider alleged that Ms Rogers kept a "slush fund" from which she gave staff benefits, including expensive gifts.
The police suspect that Ms Rogers and the Human Group devised a system in which they allegedly issued inflated invoices to the NAB to collect kickbacks and cover certain private expenses, including Ms Rogers' $500,000 overseas holiday.
(cont)
https://www.smh.com.au/business/banking-and-finance/andrew-thorburn-s-former-chief-of-staff-allegedly-rorted-500k-for-a-holiday-20190206-p50w3h.html
#5028220 at 2019-02-04 20:38:28 (UTC+1)
Q Research AUSTRALIA #2
Superannuation and home loan sectors likely to be dramatically overhauled after Banking Royal Commission
The superannuation and home loan sectors are likely to be dramatically overhauled after a damning report from the banking royal commission.
Each of the big four banks and AMP could also be back in court facing criminal charges for dishonest conduct under the corporations act - charges carrying hefty financial penalties and up to a decade jail.
NAB was front and centre for Commissioner Kenneth Hayne's scorn, with particular aim taKen at its CEO Andrew Thorburn and Chair Ken Henry.
Mr Hayne said NAB "stands apart" from the other three major banks.
The Commissioner's report contained 76 recommendations, referring 24 more cases to two regulators for criminal or civil charges.
Banning the hawking of superannuation and insurance products, and allowing people to have only one super fund were among the recommendations.
https://finance.nine.com.au/2019/02/05/05/59/banking-royal-commission-australia-superannuation-and-home-loan-sectors-to-be-dramatically-overhauled
don't trust on of (((them))) pushing this, maybe getting out in front to control narrative for the Zionists