The former prudential regulator will start as a director at the company’s bank this week – with penalties put in place during his tenure still in force.
Analysts and financial advisers have different views on which of the country’s major financial institutions will offer the best return for shareholders.
Both ANZ and NAB reported healthy interim cash profits but the core business of lending and borrowing isn’t as profitable as it used to be, particularly in a rising rates environment when banks would usually rake in super profits.