(21 December 2015 – Australia) Australian & New Zealand Banking Group (ANZ) has named Graham Hodges as acting chief financial officer to replace Shayne Elliott, who will commence his new role as chief executive officer from January.
Retaining his role as deputy CEO, Hodges will assume responsibility for finance, group strategy, legal, treasury, investor relations and mergers and acquisitions, the bank said in a statement on Friday.
The bank added that it expects to complete the search for a permanent CFO next year. Elliott is replacing the retiring Mike Smith, who championed an expansion into Asia over the course of his eight years leading the bank.
One of the challenges facing the bank, Australia’s third largest by market value, is increasing returns from its overseas operations, which consumed nearly a third of its capital in the year to September, while accounting for less than one-fifth of profits.
The lender is also seeking to win more market share in New South Wales, Australia’s largest state economy.