Published: November 23, 2018
Evidence of Commonwealth bosses at royal commission reveals failed culture that highly paid staff and regulators failed to fix
After all the scandals plaguing Commonwealth Bank in recent years – the Austrac money-laundering scandal, the CommInsure scandal – the bank dumped its chief executive and overhauled its board, hiring Catherine Livingstone, a doyenne of Australia’s boardroom class, as its new chair in 2017.
This week she gave evidence to the banking royal commission, saying that she knew she was putting her reputation on the line when she joined CBA and was determined to turn the bank around.
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