Trading Scandal Engulfs ANZ’s Markets Unit as CEO Starts Probe

Bond trading data in focus after ANZ’s values scrutinized
CEO Elliott says ANZ is working rigorously on the matters

Shayne Elliott and his key lieutenant Mark Whelan told staff Thursday that action will be taken if any evidence of wrongdoing is found after fresh allegations emerged of it inflating bond trading data. — Shayne Elliott and his key lieutenant Mark Whelan told staff Thursday that action will be taken if any evidence of wrongdoing is found after fresh allegations emerged of it inflating bond trading data.
Photographer: Anthony Kwan/Bloomberg

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By Harry Brumpton

July 11, 2024 at 9:00 PM UTC

This article is for subscribers only.

ANZ Group Holdings Ltd. bosses are battling to contain the fallout from a string of scandals as the Australian banking giant grapples with one of the toughest periods in recent years.

Chief Executive Officer Shayne Elliott and his key lieutenant Mark Whelan told staff Thursday that action will be taken if any evidence of wrongdoing is found after fresh allegations emerged of it inflating bond trading data. ANZ has hired external lawyers to help investigate the claims as well as to look into workplace culture in its markets unit, which falls under the Whelan-led institutional division.