Victorian Premier John Brumby says Carl Williams was a serial killer and a royal commission into his death would be a waste of taxpayers' money.
Williams was bludgeoned to death inside Victoria's highest security prison on Monday.
Three separate inquiries have been launched into his death by the police - overseen by the Office of Police Integrity (OPI) - the coroner and Corrections Victoria.
Mr Brumby said those probes were adequate.
"I know there's been some calls today for a royal commission, to be honest what occurred in the prison was obviously unacceptable, but the person concerned was a serial killer," Mr Brumby told reporters on Wednesday.
"I think it would be quite unnecessary and quite inappropriate use of taxpayers' money to have a royal commission.
"The three inquiries are there, I think they're more than enough to do the job."
Mr Brumby is also resisting renewed calls for an independent anti-corruption commission.
Such bodies in NSW and Queensland had turned into a "lawyers' picnic", he said.
Williams 'didn't have a chance'
The head of Victoria's prisons has defended his staff amid claims Melbourne underworld figure Carl Williams lay dying in his prison cell for 25 minutes before he was found by guards.
Victorian corrections commissioner Bob Hastings would not comment on the delay, saying it would be examined as part of three separate investigations.
"The staff have reacted as well as they could have and done the right thing," he told ABC radio.
"I trust my staff as much as anyone else can. They deal with complex people in complex environments and they do a fairly good job of managing all of that."
Williams, 39, was attacked at Barwon Prison top security Acacia unit at about 12.50pm (2.50pm NZT) on Monday.
Closed circuit footage depicts one inmate detaching the reinforced seat support from an exercise bike before attacking Williams.
Williams was sitting at a table reading a newspaper when he was ambushed and struck at least eight times in less than 10 seconds.
An inmate, "Little Tommy" Ivanovic, then suggested to staff that they should check on Williams.
The homicide squad was first notified about the attack shortly before 1.30pm and Williams was pronounced dead by paramedics 17 minutes later.
"He didn't have a chance," a prison source told the Sydney Morning Herald.
The unit can hold 10 inmates but only three were in the section on the day.
Williams was allowed to associate with just two inmates because of fears for his safety, the Sydney Morning Herald reported.
Although the cameras are usually monitored, a prison officer was busy with other duties at the moment Williams was assaulted.
Williams' lawyer Rob Stary said there had been a "very, very serious lapse" in security.
"Being in the state's strictest regime where he was constantly monitored ... we thought he was secure, he thought he was secure and the authorities thought that he was secure," he told the Nine Network today.
Corruption considerations
The source said the delay in reaching Williams had prompted investigators to consider checking prison officers' bank accounts to see if there had been any suspicious or unexplained cash deposits.
Mr Hastings said he had spoken to Barwon Prison staff and believed they had reacted appropriately and were not corrupt, but they would be investigated too.
"I would hope I don't have corrupt staff, but it's like the rest of the world, there may be people that are corrupt," he said.
"I trust my staff as much as anyone else can, I think they deal with complex people in complex environments and they do a fairly good job at managing all of that.
"Our staff will be investigated ... what they saw and what they did and also subjected to an investigation of our own."
Police have established a financial link between the suspect and Ivanovic - one of two inmates present when Williams was attacked.
Opposition Leader Ted Baillieu said a judicial inquiry might be required to unearth the reasons behind the murder.
But Baillieu said it was unclear why the OPI had decided to oversee the investigation and that the OPI itself was under government review.
"So I think Victorians are entitled to be concerned and confused about what's gone on here and if it proves necessary then at least a judicial inquiry will be required."
He said it was unclear whether Williams' death showed there were greater levels of corruption in Victoria than had been revealed.
However, Overland said there was nothing to suggest the killing would spark further murders as most of Williams' allies were either dead or in jail.
Murder charge laid
The man charged with murdering Williams appeared in court yesterday via a video link.
The man, who cannot be named for legal reasons, was remanded in custody and will next face court on July 23.
The accused, 36, is charged with one count of murder.
He fidgeted throughout the court appearance, at times crossing his muscular arms or placing his elbows on a small table before him and holding his hands together, but his face showed little expression.
- AAP, STAFF REPORTER
No royal commission for 'serial killer' Williams
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