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Australian Commonwealth Bank chief to step down
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Australian Commonwealth Bank chief to step down

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Image result for Australian Commonwealth Bank chief to step downThe Chief Executive Officer of Australia’s Commonwealth Bank, Ian Narev, has been pressured to step down after six years of service.

His bank is believed to have breached money laundering regulations.

Australia’s Transaction Reports and Analysis Centre had instituted cases against the bank, saying there were serious and systematic breaches of money laundering.

The board of the bank reacted to the report by scrapping all allowances reserved for senior managers.

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