Commonwealth Bank boss Ian Narev has finally fronted the media (July 3) over the CBA financial advice scandal, a whole week after a damning Senate report into fraud and other severe misconduct by CBA planners between 2006 and 2010.
I realise the bank had to put together a new compensation package but Narev should have fronted the media and apologised the day after the report was handed down. As it was, it took the threat of a Royal Commission and intense pressure from the finance minister to get Narev to unresevedly apologise to the thousands of victims. This was a whole year after Fairfax Media exposed the scandal and six years after the bank whistleblower informed the corporate regulator.
I hear Narev was on holiday with his family overseas. If that’s true he obviously didn’t think the apology was worth him breaking the family holiday. He’s also forgetting that the media are the public.
In wonder what the victims who lost their life savings think of that.