the Australian Financial Review is being sued for $1m by a senior financial planner who works at the bank, and who claims that he was passed over for a promotion due to his race; a regional manager reportedly told him that her rich clients did not want "another Indian". In recent years, regulators have become more and more proactive in dealing with what they call the cultural issues at banks; this issue is unlikely to endear the bank to regulators, in light of this regulatory environment.
Westpac is being sued for $1m by a senior financial planner who works at the bank, and who claims that he was passed over for a promotion due to his race; a regional manager reportedly told him that her rich clients did not want "another Indian". In recent years, regulators have become more and more proactive in dealing with what they call the cultural issues at banks; this issue is unlikely to endear the bank to regulators, in light of this regulatory environment.