Gerald Ewing, Chief Executive Officer at Regis Mutual Management Pty Ltd and Unimutual Limited on LinkedIn
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has exposed a few home truths so far – with more set to be uncovered as it goes on. But it is also a timely reminder of what does work, and the value of those hard-earned wisdoms.
Some of the organisations currently under scrutiny have undergone demutualisation over the last few decades – and many insiders see the current industry issues as a natural consequence. In response to revelations about AMP, which demutualised in 1998, CEO of the Business Council of Co-operatives and Mutuals Melina Morrison, has spoken up (to ABC’s Fran Kelly and the AFR’s Patrick Durkin) in defence of the humble Mutual – asking:
“Would we be in this position, had the respective institutions never demutualised? While we will never know … it seems unlikely.”