ANZ’s risk failure revealed by McKinsey report is shocking because we heard it all before during the banking royal commission

ANZ’s risk failure revealed by McKinsey report is shocking because we heard it all before during the banking royal commission

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It’s fitting that ANZ has released a report confessing it has a cultural problem dealing with bad news at 3pm on a Friday.

As everyone in media, business and political circles knows, when you want to bury bad news, the best time to dump it is just before the weekend. The fact that a big chunk of the nation’s fund managers were busy toasting each other at the Sohn Hearts & Minds conference doesn’t hurt either.

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