Banking executives warn major changes coming

Westpac chief executive Gaily Kelly has warned that the financial industry will continue to face more significant changes as the European debt crisis permeates through the rest of the world.

“The next decade will see a dramatic transformation in the way our industry does business,” she told The Australian Financial Review.

National Australia Bank chief executive Cameron Clyne also told the publication that regulation and innovation were major challenges the industry will face over the next few years.

This article first appeared on SmartCompany.

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