The intervention came as brokers began to warn that the alleged misconduct could lead to regulators forcing ANZ to hold more capital than its rivals.
Already a subscriber?ANZ’s major superannuation investors say they are “concerned by recent allegations” that the bank’s trading team manipulated a government bond auction and inflated the reported volume of transactions.
“Bank culture is not getting any better and this shows it,” said Mr Medcraft on Friday. “The royal commission didn’t achieve a great deal other than maybe a few heads on sticks,” he said, adding that boards should be made responsible for policing bad culture. “It is now the board’s responsibility to assess what has occurred and determine accountability for executives,” he toldASCI’s members are among the largest investors in ANZ. AustralianSuper holds a 2 per cent stake in the bank, while Aware Super has a 1 per cent holding. HESTA and REST both hold around 0.6 per cent stakes.the Australian Prudential Regulation Authority.
Shares in ANZ have lagged rivals over the past three months, gaining 6.9 per cent compared to Westpac, NAB and CBA, which are up between 13.8 and 15.7 per cent since late April.
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