ANZ Banking Group has appointed its CFO Shayne Elliott as the group’s new CEO, replacing Mike Smith – who joined the bank as CEO in 2007.
Elliott, whose appointment is effective 1 January 2016, will also join the bank’s board.
Elliott, who has more than 30 years of experience in banking sector, joined ANZ as CEO of institutional banking operations in June 2009. He was named ANZ’s CFO in June 2012.
From 2006 to 2009, Elliott was based in Egypt as CFO at EFG-Hermes. Prior to EFG-Hermes, he spent 20 years at Citibank/Citigroup across six countries in a variety of roles including regional business management, country management, strategy and derivatives sales and trading.
ANZ chairman David Gonski said Smith had transformed ANZ into Australia’s only international bank with a focus on Asia Pacific.
"Mike was appointed Chief Executive as the world was entering the global financial crisis. Despite those headwinds and a volatile environment for banks around the world, his leadership has seen ANZ continue to grow market share in Australia and establish a strong, growing New Zealand business under one brand.
"He has transformed ANZ into one of Asia Pacific’s leading banks with operations in 34 countries, delivering strong outcomes for our customers and for our shareholders.
"Shayne was the outstanding candidate for the role of chief executive given his deep knowledge of the ANZ Group, his strategic vision, global financial services experience and his track record of building and leading strong international management teams," Gonski added.