After a successful trial of a 'no-sales targets' system in its call centre, ANZ New Zealand has announced it will ditch sales targets for frontline retail staff from October. ANZ managing director retail and business banking, Antonia Watson, said "the environment is clearly changing and the feedback we are getting and what we're seeing in Australia suggests this is the right approach." First Union national finance sector organiser Stephen Parry said the removal of sales targets and sales pressure was the main point of discussion in recent collective bargaining negotiations the union had with ANZ. CBA has acted on the findings of a scathing APRA report by cutting the pay of its current and former executives and introducing measures to ensure the bank suffers no further reputational damage, the AFR has reported. The bank's remuneration report said that new chief executive Matt Comyn's package would be 17 per cent less than Ian Narev on appointment. Narev took home A$10.07 million while Comyn will be paid up to $8.36 million, of which 74 per cent is in the form of variable remuneration. The report also showed that previous executives have also paid the price for the findings of the scathing APRA report into the bank's culture and governance. Four years after peer-to-peer lenders were licensed in New Zealand, interest.co.nz has taken a "stocktake" of how much business the eight P2P lenders operating in the country might be taking from retail banks. (It finds banks have no reason to be "quaking in their boots" - just yet.)