Mike Smith, who’s been CEO of the ANZ Bank for eight years, will be leaving “within the year”.
In an interview with Bloomberg TV, he was asked about his previous comments about leaving in 2016. “Well you know … within the year,” Smith said.
Smith, who has been running the bank since 2007, was asked if he had been the role too long.
“No, I think when I took on the job, when I left Hong Kong all those years ago, I thought my tenure would be about five to seven years and I’ve done eight years, so I’ve publicly said that by sometime soon I’ll be hanging up my boots,” he said.
Smith became the longest-serving big four bank chief on the departure of Gail Kelly from Westpac.
He has been positioning the bank as a player in Asia. Revenue from Asia has consistently grown at double digit rates with the cumulative annual growth rate over the last five years at 19%.
The ANZ is on track to a full year record profit. The ANZ posted a 4.3% increase to $5.4 billion in cash profit for the the nine months to the end of June, putting it in line to hit a full year record of about $7.2 billion.
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