(8 June 2007 – Australia) Steve Targett has left ANZ and has been replaced as group managing director of Institutional by Peter Hodgson.Targett joined ANZ from Lloyds TSB in July 2004, replacing Bob Edgar, and was widely tipped as a possible successor to current chief executive John McFarlane.
ANZ head of Risk for the Institutional division David Stephen replaces Hodgson in an acting capacity.
McFarlane thanked Targett for his contribution over three years with ANZ.