Australia and New Zealand Banking Group Limited (ANZ) has named a new head of proprietary lending as the major bank's reinvention plans continue.
Troy Fedder has been named general manager for proprietary lending, effective immediately. He has been tasked with overseeing strategy, governance and growth of the retail proprietary lending business.
"I’m excited for this next chapter and I’m looking forward to building a great business with ANZ," Fedder said on LinkedIn. "I’ve had an amazing journey with Suncorp Bank and I’m leaving with so many wonderful memories from the past five years."
Sydney-based Fedder is the former executive general manager for home lending at Suncorp Bank, which falls under the ANZ umbrella, following ANZ's 2024 acquisition of Suncorp. Dylan Atherton moved into the role of EGM of home lending at Suncorp.
ANZ declined to comment on the reshuffle and what it means for the bank's retail proprietary lending channel.
The expansion of ANZ’s in-house lending division comes amid a broader industry shift, with some lenders increasingly prioritizing proprietary channels over third-party brokers.
In April, Bank of Queensland (BOQ) said it was doubling down on its efforts to move away from the broker third-party channel, redirecting more of its attention inward. The following month, National Australia Bank (NAB), revealed that it had hired roughly 150 new proprietary home lenders in 2025's first half. The move was meant to solidify its own direct lending capabilities, but reduced reliance, at least in part, on third-party brokers. In addition, CBA rolled out several borrower incentives this year — including up to 300,000 Qantas Points and exclusive variable rates — available only through its direct digital channels, effectively bypassing brokers.
But ANZ, in particular, has been under increased scrutiny. In September, the major bank said it plans to slash approximately 3,500 jobs by September 2026 as part of newly-appointed chief executive officer Nuno Matos' cultural and organizational overhaul.
It's unclear how many brokers will be impacted by the changes. But a source told Australian Broker that the cuts are aimed more at reducing inefficiencies in ANZ's head office than targeting broker roles. In addition, the lender also plans to scale back its use of consultants and other third-party providers, impacting another 1,000 managed services contractors.
Just days later, ANZ was hit with a $240 million fine from the Australian Securities and Investment Commission (ASIC) for a number of wrongdoings, including "unconscionable conduct" for services provided to the Australian government, falsely reporting bond trading volumes by tens of billions of dollars and other misconduct across retail products and services over a number of years. The fine was the largest penalty ASIC has ever brought against one entity.
Matos was quick to point out that "the failings outlined are simply not good enough and they reinforce the case for change.
“We have fast-tracked work to significantly improve our management of non-financial risk across the ANZ Group," he added.
Despite the CEO's apologies, the bank still drew sharp criticism, including from FSU national secretary Julia Angrisano, who declared, “ANZ is a bank in crisis.”
Meanwhile, rumors have circulated that ANZ intends to phase out the Suncorp brand by the end of 2026. The group has denied these claims, stating: “A review of our Suncorp Bank integration plans remains underway, and ANZ has made no decisions regarding the future state of Suncorp Bank.”
ANZ plans to provide a strategy update to investors on 13 October.
