Super funds slam short term banks

Original article by Michael Roddan
The Australian – Page: 17 & 21 : 17-May-18

Institutional investors want directors and executives of Australia’s banks to be more accountable in the wake of the banking royal commission. AustralianSuper’s chief investment officer Mark Delaney says the major banks have been too focused on short-term profits, although he notes that this has changed in the last two years. UniSuper chief investment officer John Pearce says the findings of two recent Australian Prudential Regulation Authority investigations have been more damning than the royal commission’s revelations.

CORPORATES
AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIANSUPER PTY LTD, UNISUPER LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, IFM INVESTORS PTY LTD, FIRST STATE SUPER, REST SUPER PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AMP LIMITED – ASX AMP, COCA-COLA AMATIL LIMITED – ASX CCL, BLOOMBERG LP

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