September 19, 2018 / 12:52 AM / 3 months ago

National Australia Bank slashes exec pay amid misconduct scandal

Sept 19 (Reuters) - National Australia Bank said on Wednesday it had slashed remuneration for its executive team after a public inquiry uncovered evidence of misconduct at the bank and across the financial sector.

The lender reduced total rewards at current target levels for its chief executive by about 11 percent in fiscal 2018, from 2017. Rewards for its executive leadership team would be reduced by about 15 percent from 2017, the bank said in a statement.

Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below