SYDNEY: Commonwealth Bank of Australia chief executive officer Ian Narev has been stripped of his short-term bonus as the lender battles to contain the fallout from allegations it breached money-laundering and terrorist-financing laws more than 50,000 times.
The board decided to scrap short-term bonuses for Narev and other senior executives after “consideration to risk and reputation matters impacting the group,” chairman Catherine Livingstone said in a statement.
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