Australian Bankers’ Association head says banks need to better explain CEO pay but royal commission into sector not justified

Australia’s banks have nothing to hide from a royal commission but fear it would “seriously damage” their global reputation and hurt their customers, according to former Labor premier Anna Bligh.

Bligh, now the chief executive of the Australian Bankers’ Association, has also acknowledged banks need to better explain why their chief executives are paid such huge salaries.

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