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National Australia Bank slashes executive pay amid misconduct scandal

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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.

[BENGALURU] 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 per cent in fiscal 2018, from 2017. Rewards for its executive leadership team would be reduced by about 15 per cent from 2017, the bank said in a statement.

REUTERS

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