(13 June 2007 – Australia) ANZ Bank has appointed Michael Smith as its new chief executive officer, taking up the reins on 1 October 2007.Smith will succeed John McFarlane who leaves ANZ after a decade as CEO.
Smith is currently president and CEO of the Hongkong and Shanghai Banking Corporation, chairman of Hang Seng Bank and chairman of HSBC Bank Malaysia. He is also global head of commercial banking for HSBC.
ANZ chairman Charles Goode said Smith was well qualified to take ANZ forward.
“He is an outstanding all round banker. In his 29 years with the HSBC Group he has developed an impressive track record across multiple businesses and geographies with extensive experience in retail and corporate banking,” he said.
Goode noted Smith’s Asia credentials, saying he had “considerable experience of the Asian market place and a strong commercial banking background”.
Goode paid tribute to the outgoing McFarlane, saying he had created an organisation with a reputation for consistently delivering on its promises to shareholders by transforming ANZ’s cost base, lowering risk and creating a new foundation and capability for the organisation.
“This is most notable in ANZ’s vibrant culture and in ANZ’s strong customer and community recognition,” he said.