nab’s bloodbath shows the value of contrition - how much is a smart board

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Bloomberg View)--
The suspect is always told to wear a beautiful suit and a humble attitude when appearing in court.
Bankers who face public inquiries are no different.
This is of course your conclusion from the massacre at the top of the National Bank of Australia Ltd.
The bank said after the stock market closed on Thursday that chief executive Andrew Thorburn would resign by the end of this month.
Former Australian finance minister and member of the board of directors of the Reserve Bank, chairman Ken Henry, director of Australia market operator ASX Co. , Ltd.
-Follow up once Thorburn's replacement has been appointed.
It is not difficult to see the direct reason.
In a Royal Commission investigation into the Australian financial sector that ended on Monday, Commissioner Kenneth Hayne specifically pointed out the unusual harsh criticism of the couple.
After hearing their testimony at the hearing on November, he wrote, "I am not as confident as I would have hoped to learn from the past . ".
"I am still concerned that there may be a big gap between the public image that the NAB is trying to show and what it does in practice.
"From the bank's point of view, there is some cruel significance in this move.
It has been nearly five years since sobyne took the job, roughly equivalent to the term of his predecessor, Cameron crane.
Given that NAB's share price is now behind the other big four banks in Australia, yunhain has also had a certain impact on his performance, and it doesn't make sense for a long time.
While most of the "cost of not providing services" activities he was under attack took place before he started his top post, the apparent lack of repentance angered the Commissioner: the amount of so many large and complex financial entities "falling into their pockets", and the number of times it happened, many years have shown that, it can't be ignored just because of clumsy incompetence or the product of a bad computer system.
In this judgment, Thorburn and Henry's peers are at risk because NAB is not the only institution to be singled out.
Westpac Bank
CEO Brian Hazel has just celebrated his fourth anniversary at work, and he has also been criticized, albeit more understated.
Since the start of the survey, the bank has done the least in many ways to reform and stick to its wealth and insurance business, while competitors have moved away from their differences.
Hazel tried to improve Westpac's relationship with the Australian Securities and Investment Commission, but Heins did not fully believe that the attempt was sincere.
The chairman of other Chinese financial regulators should also stand on his shoulders.
In Hain's estimate, Wayne Byers, head of prudential regulators in Australia, essentially shares the view of essobrne that the "cost of not providing services" scandal is a product of incompetence rather than malice
The Labor government may take office before his second five.
This year's term begins in July, and Byers is better off not being too comfortable.
At the same time, it is surprising how much the fate of executives depends on how well they perform in the witness box.
Federal Bank of Australia and Bank of New Zealand Group Limited
Qualified approval from Hyne was given on the grounds that their chief executive's testimony indicated that they were "very well aware of the size and nature of future tasks.
This is probably the case.
The Commission has a year to look into the affairs of the Bank of Australia, so it is possible to tell how much change is taking place in their culture.
Nevertheless, NAB and Westpac are by no means the most serious criminals of the past.
In the cost of the no-service scandal, the federal bank has to pay the largest amount of compensation to date, and Westpac is relatively unaffected, AMP Ltd.
-Clean theme for another cruel meeting room-
Last year was almost a peripheral market.
The sympathy of the Commonwealth Bank and ANZ executives seems to have made great progress.
Reversing the internal practices of any company is a daunting task.
Australian bank executives who are focused on work want to do their best in the coming years to reassure regulators and the public that cultural change is the first, second, and the third thing they are considering.
But there is a difference between making a good description of yourself in the witness box and making a difficult change in reality.
It's only time to know if Hyne's shot hit the right target.
Contact the author of this story: David Ficklin of dfickling @ bloomberg.
NetTo contacted the editor in charge of the story: Matthew Brooke from mbrooker1 @ bloomberg.
The NetThis column does not necessarily reflect the opinions of the editorial board or Bloomberg LP and its owners.
David Ficklin is a columnist for Bloomberg News, which focuses on commodities, industry and consumer goods companies.
He was a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and The Guardian.
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