Elliott reaffirms ANZ’s Asia presence
(27 January 2016 – Australia) According to The Australian, ANZ Banking Group chief executive Shayne Elliott has re-committed to the bank’s position in Asia.
Speaking to the Australian and New Zealand Chamber of Commerce in Japan, Elliott said: “Our institutional strategy is that we want to be the best bank in the world for companies moving goods and money around this region.”
“I can’t conceive of an ANZ that’s not heavily invested in, or doesn’t really care about what’s happening in Asia, but that doesn’t mean we’re not going to change things along the way.
“The essence of what we’re doing has not changed; just the way we’re executing it.”
The Australian also reported that ANZ’s chief also highlighted that the bank’s previous management team struggled to keep its growth strategy in line with a rapidly shifting regulatory framework. He said that rules changing “literally every week” was akin to the game the bank was playing transforming “from rugby to baseball.”
However, the bank would remain Australia’s most outwardly focussed lender according to Elliott.
Additionally, Elliott said that heightened volatility was in part responsible for the bank’s move toward simplicity across its business.
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