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Banks short of skills at the top

Discussion in 'Finance & Banking' started by Tropo, 11th Sep, 2008.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005
    Banks short of skills at the top

    Commonwealth Bank has possibly the best skilled and most balanced board of directors out of the major banks according to research conducted for the The Australian.
    The CBA board has a broad skill base among its directors, including three with a banking pedigree.
    Only 16 of the 80 bank directors investigated have banking experience.
    Bank boards were generally "undermanned and short of suitable experience" said a banking expert. the dominant professional background for a bank director is in accounting (15 of 80 directors), followed by law (10) and resources (8).
    ANZ directors have the longest average tenure (6.5 years), the highest average age (62 years) and the greatest average number of other directorships (3).

    Source: The Australian