Major bank appoints new CEO

by Julia Corderoy01 Oct 2015
ANZ has announced that Shayne Elliott will become the major bank’s new chief executive officer, succeeding Mike Smith on 1 January 2016 after eight years in the role. 

Elliott is currently ANZ’s chief financial officer, responsible for all aspects of finance as well as group strategy, legal, treasury, investor relations and mergers and acquisitions.

Originally from New Zealand, Elliott has over thirty years’ experience in international banking including in Australia, New Zealand, Asia Pacific and the Middle East. He joined ANZ as CEO Institutional in June 2009.

He has held senior positions in Citigroup in Australia and New Zealand, the UK, USA, Asia Pacific and in the Middle East. Prior to joining ANZ, Elliott was a senior executive with the investment bank EFG Hermes. For the past three years he has been ANZ’s CFO.

Smith will step down after eight years as chief executive officer and as a Director on 31 December 2015.

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.”

Smith will be retained as a non-executive advisor to the Board, initially for one year.