Commenting on the changes Mr Elliott said: “ANZ has terrific retail and commercial businesses in Australia and New Zealand and we have a great global institutional bank servicing regional trade and capital flows.
“These changes simplify how we work internally and allow us to bring greater focus to what we do uniquely well for our customers. The aim is to ensure we successfully compete in a world where connectivity and digital are more important to customers than ever before and where community expectations have never been higher,” he said.
Announcing the changes, which are effective from Monday 1 February, Mr Elliott also set out a number of medium-term priorities for ANZ:
- Delivering value for customers through more innovative, convenient and engaging financial services.
- Being Australia’s only truly regional bank by delivering solutions for customers through a more focussed, better connected international network.
- Continuing to build a strong, cohesive culture known for ethics, values and fairness.
- Delivering consistently strong financial results for investors balancing growth and return.
“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,” Mr Elliott said.
- 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.
- Farhan Faruqui, Group Executive, International reporting to Mr 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.
Retail and Commercial
- Fred Ohlsson – Group Executive, Australia with responsibility for Retail and Commercial Banking in Australia. Mr Ohlsson comes to the role from ANZ New Zealand where he has been Managing Director, Retail and Business Banking since 2013. He has worked in a range of senior roles at ANZ since 2001 including General Manager Commercial Products (Australia) and General Manager Products and Marketing for Esanda.
- 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.
- A new role of Group Executive, Digital Banking will be established with responsibility for ANZ’s digital transformation. An external appointment to the role is expected to be announced in the coming months.
Other members of ANZ’s Executive Committee continuing to report to Mr Elliott are:
- Graham Hodges - Deputy Chief Executive Officer who will have responsibility for ANZ’s international partnership investments in Indonesia, Malaysia, China and The Philippines.
Mr Hodges will also remain Acting Chief Financial Officer. The internal and external search for a new Chief Financial Officer is well advanced and is expected to be finalised in the coming months.
- Susie Babani – Chief Human Resources Officer
- Alistair Currie – Chief Operating Officer
- Nigel Williams - Chief Risk Officer
As part of the changes Gilles Planté, Deputy CEO Institutional and International Banking, Managing Director Business Portfolio Management and a member of ANZ’s former Management Board will be leaving ANZ.
Mr Elliott commented: “Gilles has made an important contribution to ANZ in a range of senior executive roles since he joined us in 1997. I thank him for his service and wish him every success in his future career.”
An interview with Mr Elliott discussing the management changes is available via BlueNotes, ANZ’s digital publication for news, opinion and insight at www.bluenotes.anz.com.