ANZ Former CEO Elliott Sues Australia Lender Over Bonus Cuts
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000ANZ Group Holdings Ltd.’s former Chief Executive Officer Shayne Elliott has started legal action against the bank after losing millions in bonuses for scandals that happened under his watch. The Australian lender said it is confident in its position and will defend the matter “vigorously,” according to an ANZ statement on Friday. Current and former senior executives took hits to bonuses, with Elliott forfeiting A$13.5 million ($9 million), for failures that had resulted in regulatory penalties and extra capital requirements.