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Bank shakes up board after scandal, but investors not appeased

Move comes as Australia's biggest lender faces first day of hearings in money-laundering case; shares sink to 10-month intraday lows

CBA has been under mounting pressure to respond more aggressively to the crisis, which has severely damaged its already tarnished reputation and exposed it to billions of dollars in potential fines.


Commonwealth Bank of Australia (CBA), the country's biggest lender, announced a major board shake-up on Monday as it scrambles to shore up investor support following allegations that it oversaw thousands of breaches of anti-money laundering rules.

But the ouster of a third...

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