Published: November 12, 2019
Apra boss Wayne Byres says his proposals to reform executive pay ‘have undoubtedly caused a fair amount of angst’
The pay packets earned by banking bosses mean they are like airline pilots who have parachutes when their passengers do not, the head of the prudential regulator says.
Speaking to a business lunch in Sydney on Wednesday, the chairman of the Australian Prudential Regulation Authority, Wayne Byres, said that his proposals to reform executive pay so that it was more in line with the interests of consumers “have undoubtedly caused a fair amount of angst”.
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