New ANZ Chief Executive Officer Shayne Elliott today started to shape his management team as he announced changes to the bank’s senior leadership structure.
Elliot has had an eventful start to his reign as the CEO of ANZ Bank. In a high profile case two former employees are suing ANZ Banking Group after they were dismissed for inappropriate behaviour. In the suit the two claim senior management of the bank condoned a culture of sex, drugs and alcohol.
Last Friday ANZ announced that Andrew Géczy was stepping down from his role as CEO International and Institutional Banking to seek new opportunities.
Team Elliot is launched
Today’s management modifications see Elliot putting in place his own people as he begins to move the bank out of the shadow of previous CEO Mike Smith.
Among the changes which are of significance to Asia and to wealth management are:
Mark Whelan – Group Executive, Institutional with responsibility for Institutional Banking. Mr Whelan is one of ANZ’s most experienced executives having most recently been CEO Australia. Formerly Mr Whelan was Managing Director Commercial Australia and his previous roles include Managing Director Institutional Asia Pacific, Europe and America based in Hong Kong, and Joint Managing Director Global Markets.
David Hisco - Group Executive and CEO, New Zealand. Mr Hisco will continue in his role as Chief Executive Officer, ANZ Bank New Zealand Limited and will have additional responsibility for the Pacific (excluding Papua New Guinea), given its strong New Zealand linkages, and for ANZ’s retail business in Asia.
Joyce Phillips – Group Executive, Wealth, Marketing and Innovation with responsibility for ANZ’s insurance, investments and private banking businesses, as well as Group Marketing and Innovation.
Farhan Faruqui, Group Executive, International reporting to Mark Whelan and based in Hong Kong, will have responsibility for ANZ’s Institutional business in Asia, Europe and America. He will also join ANZ’s Executive Committee reflecting the strategic importance of Asia to ANZ’s future success.
A regional institution
Announcing the changes, which are effective from Monday 1 February, Elliott also set out a number of medium-term priorities for ANZ including an emphasis on being Australia’s regional bank by delivering solutions for customers through a more focused, better connected international network.
«The new structure brings greater clarity to what we do best for our customers with a leadership team that reflects a diverse mix of experience and new talent from inside and outside ANZ,» Elliott said.
