ANZ’s new CEO Shayne Elliott unveiled changes to the bank’s senior leadership team designed to improve its focus on retail, commercial and institutional clients.

Elliott, who succeeded Mike Smith at the helm of ANZ effective January 1 2016, says the changes simplify how the bank works internally and allow ANZ to bring greater focus on what it does well for its customers. “The aim is to ensure we successfully compete in a world where connectivity and digital are more important than ever before and where community expectations have never been higher,” he adds in a statement.

Announcing the changes on January 27 and which are effective on February 1, Elliot also set out a number of medium term priorities for ANZ:

·         Delivering value for customers through more innovative, convenient and engaging financing services

·         Delivering solutions for customers through a more focused, better connected international network

·         Continuing to build a strong, cohesive culture known for ethics, values and fairness

·         Delivering consistently strong financial results for investors balancing growth and return.

For its institutional business, the leadership changes involve Mark Whelan, who is appointed group executive, institutional, with responsibility for institutional banking. He was most recently CEO for Australia and was previously managing director, commercial Australia.

Farhan Faruqui was named group executive, international, with responsibility for ANZ’s institutional business in Asia, Europe and America. Reporting to Whelan and based in Hong Kong, he will also join the bank’s executive committee, reflecting the strategic importance of Asia to ANZ’s future success.

Whelan’s and Faruqui’s appointments come as ANZ announced on January 22 that Andrew Geczy was stepping down as CEO for international and institutional banking to seek new opportunities. Geczy joined ANZ in 2013 following a career in wholesale banking, markets and asset management, including senior executive roles at Lloyds Banking Group and Citi.

In the retail and commercial business, Fred Ohlsson was appointed group executive, Australia, with responsibility for retail and commercial banking in Australia. He comes to the role from ANZ New Zealand where he has been managing director, retail and business banking since 2013.

David Hisco was named group executive and CEO for New Zealand. He will continue in his role as CEO, ANZ Bank New Zealand and will have additional responsibility for the Pacific (excluding Papua New Guinea), given its strong New Zealand linkages and for ANZ’s retail business in Asia.

Joyce Phillips was appointed group executive for wealth, marketing and innovation with responsibility for ANZ’s insurance, investments and private banking businesses, as well as group marketing an innovation.

Elliott also announced a new role of group executive for digital banking will be created with responsibility for ANZ’s digital transformation. An external appointment to the role is expected to be announced in the coming months.