ANZ has announced announced a number of senior management and organisational changes, effective from 1 March.

 

Shayne Elliott, currently CEO Institutional, will succeed Peter Marriott as Chief Financial Officer. Mr Elliott will initially take up the role of Chief Financial Officer Designate to complete a three-month transition with Mr Marriott who leaves ANZ on 31 May. Mr Elliott will also have responsibility for Strategy from 1 March.

 

Alex Thursby will take up an expanded role as CEO Global Institutional and Asia Pacific Europe and America (APEA) focussed on ANZ’s largest multi-national clients globally and the growth and transformation of ANZ’s international franchise. He will continue to have responsibility for Retail and Commercial in Asia Pacific, and Partnerships.

 

Joyce Phillips, currently Group Managing Director Strategy, M&A, Marketing and Innovation, will be appointed to a new role as CEO Global Wealth and Private with responsibility for wealth management and private banking globally. Ms Phillips will retain responsibility for Marketing, Innovation and Digital.

 

Mr Elliott, Mr Thursby and Ms Phillips remain members of ANZ’s Management Board reporting to ANZ Chief Executive Officer Mike Smith.

 

Shayne Elliott’s appointment follows agreement with Peter Marriott over his plan to pursue a non-executive career later this year after a distinguished contribution to ANZ including 15 years as Chief Financial Officer.

 

Commenting on the changes Mr Smith said: “These changes support our super regional aspiration at a time banking globally is undergoing a major upheaval as a result of low credit growth, funding challenges and new regulation. This creates significant opportunities for ANZ however we also need to manage our business differently – we need to be leaner and more innovative in this new and more difficult environment.

 

“These management and organisational changes create a simpler structure for the business that gives greater focus to areas of growth and opportunity. They will allow us to be more coordinated and more effective including strengthening the connection between strategy, finance and treasury. Peter Marriott’s departure also provides some of our most senior executives with broader experiences that strengthen succession planning within the Group.

 

Other changes effect 1 March include:

• Corporate Banking Australia, previously part of Institutional, will report to Mark Whelan, Managing Director Commercial reporting to Philip Chronican CEO Australia.

• Shane Buggle will be appointed Deputy Chief Financial Officer. Mr Buggle is currently Chief Financial Officer Institutional having previously held a number of senior finance roles at ANZ including Group General Manager Finance.