Being the boss of a big Australian bank comes with plenty of scrutiny these days.
A Parliamentary inquiry into the banks is underway in Australia, and there are repeated calls for this to be replaced with a Royal Commission.
The banks are under fire for not fully passing on interest rate cuts to their customers and the size of their CEO’s salaries.
Ian Narev, CEO of the Commonwealth Bank of Australia is the highest paid, taking home $A12.3 million last year.
He earned in three days what the average Australian earns in a year.
In New Zealand, talk about our banking industry being dominated by the big Aussie banks rumbles on despite record low interest rates.
What is not so widely known is that three out of the four big banks are headed by New Zealanders.
The Commonwealth Bank, which owns the ASB, has Narev as its CEO, the National Australia Bank which bought BNZ is headed by Andrew Thorburn and the top job at ANZ is also filled by a Kiwi, Shayne Elliot.
All three are University of Auckland alumni and this week took part in a panel discussion at its Business School.
In this video excerpt they discuss leadership, teamwork and whether they are optimistic or pessimistic about New Zealand’s future.
