Changes at ANZ look to ‘simplify’ structure
(28 January 2016 – Australia) Australia and New Zealand Banking Group (ANZ) has announced a raft of changes to its management structure.
The bank said the shuffle was aimed at improving the its focus on key businesses.
The changes follow the promotion of former Chief Financial Officer, Shayne Elliott to lead the bank following the departure of long-time serving Mike Smith.
Speaking about the changes, Elliott said "We have terrific businesses today, particularly our retail and commercial businesses here in Australia and New Zealand.
"We really want to get focussed on those."
Included in the changes is current Australia head Mark Whelan being given the reins of the bank's international and institutional business after Andrew Geczy resigned last week.
The bank’s New Zealand retail boss, Fred Ohlsson, will move to head up Australia.
Under Mike Smith, ANZ became the biggest Australian-based lender in the Asian market. According to the bank, its international and institutional division accounts for about 36 percent of its total operating income.
The bank is set to announce a new head for digital banking in the coming months while it continues the hunt for a chief financial officer.
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