Six cultural deficiencies in ANZ’s markets unit

Consultants at Oliver Wyman wasted no time in getting down to business, overhauling the culture at ANZ’s markets unit. The bank brought in the firm to provide insight into the division, where internal complaints about workplace misconduct have already led to the departure of three traders.

Oliver Wyman began interviewing staff just as they were informed of their annual bonus. Sources say the bonus fund is down about 50% in the markets division – despite having its best year since the outbreak of the COVID-19 pandemic in 2020.

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