Murray takes aim at industry cultureBY JAMES FERNYHOUGH | TUESDAY, 25 NOV 2014 12:45PMFormer Commonwealth Bank boss David Murray has taken aim at the culture of the financial services industry, arguing there is an 'established mythology' of distrust that must be addressed. Related News |
Editor's Choice
ASIC pushes to bolster competitiveness
|The regulator has hosted a roundtable with financial services leaders to encourage competitiveness, as it fears Australia is falling behind its global peers.
Euroz Hartleys sells capital markets arm to Canada's BMO
|Euroz Hartleys has sold its capital markets business to Canada's BMO Financial Group (BMO) for $145 million in an all-cash deal.
ETF adoption hits 'meaningful threshold' among SWFs
|Nearly 40% of sovereign wealth funds have an allocation to ETFs, a new report from Invesco shows, underscoring their expanded roles among institutional investors as their rate of adoption hits a "meaningful threshold".
Super system to hit $12.4tn by 2045
|Australia's superannuation system is forecast to triple in size over the next two decades reaching $12.4 trillion by 2045, as sustainable retirement outcomes become the sector's defining challenge.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
So he has made his money and can now speak in non-specifics (mumbo jumbo really) about mythical monsters and magical bonds that bind. Not one concrete piece of information.
What are you actually trying to say David Murray? Use words that actually have some tangible meaning please.
@p jack. Well said. Could not agree more. Furthermore if anything concrete should come out of this inquiry lets hope that it is well balanced and that our political masters have the courage to implement changes that not only protect consumers but the many who serve them too. If the Ken Henry review is anything to go by I have my doubts.
This is a bit rich from Murray. He was the CEO at CBA when the culture allegedly slipped and the financial advice problems gestated. I don't think he understands anything except simple banking and is out of his depth with the FSI. He confuses the whole debate with his obtuse language, which he seems to thinks makes him sound knowledgable but sounds like a spin to cover up his inadequacies. Heaven knows what poor old Treasurer Joe Hockey will make of the Final Report; blind leading blind comes to mind.