The former head of ANZ and most of his leadership team have missed out on $32 million in bonuses after the major bank copped a record fine from the corporate watchdog.

Ex-bank chief Shayne Elliot lost a $13.5 million bonus for 2024 and 2025 while three other executives were also stripped of their short-term incentive payments, the company's annual report disclosed on Monday.

The action came after ANZ was in September slapped with a $240 million penalty following an Australian Securities and Investments Commission probe into widespread misconduct, including mismanaging a $14 billion bond it was handling for the federal government.

"The board takes its role in setting the remuneration for the executive team very seriously," ANZ chairman Paul O'Sullivan said in the annual report.

"This in

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