Shayne Elliott, who will be first internally appointed CEO of the ANZ Bank for 30 years, has given a strong indication he won’t change the strategy of building the bank’s business across the region and in Asia.
Shortly after the announcement today of his appointment, Elliott said: “Obviously I know ANZ really well. I’ve worked there for six and a half years. I was really integral in building out the Asia franchise when I ran institutional.”
Mike Smith, the outgoing CEO, 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%.
Elliott says he’s got a good exposure and experience of the whole group and how it all works.
“I think that’s really important knowing the bank,” he says. “Secondly my background has been pretty global. I have worked all over the place with a particular focus on Asia Pacific.
“Bringing those things together I think there’s a natural fit with my experience and capabilities and what the bank is looking for.”
Elliott is a New Zealander, aged 51 and has 30 years in banking behind him.
As chief financial officer, he has been responsible for all aspects of finance as well as group strategy, legal, treasury, investor relations and mergers and acquisitions.
Elliott says he’s honoured to have the opportunity to lead ANZ. He starts officially on January 1.
“ANZ is a bank that plays an important role supporting our customers and communities in 34 countries,” Elliott says.
“Our people are guided by a clear strategy and a strong set of values. I look forward to working with (CEO) Mike (Smith) during the transition period and to building on the foundation he has established.”
Elliott joined ANZ as CEO Institutional in June 2009.
ANZ chairman David Gonski says Elliott was the outstanding candidate for the role given his deep knowledge of the ANZ group, his strategic vision, global financial services experience and track record of building and leading strong international management teams.
He has held senior positions in Citigroup in Australia and New Zealand, the UK, US, Asia Pacific and in the Middle East.
Prior to joining ANZ, Elliott was a senior executive with the investment bank EFG Hermes.
“Today’s announcement is a result of a detailed review of external and internal candidates,” Gonski says.
“Shayne’s international banking and financial experience, together with his background in Australia and New Zealand makes him the right person to lead ANZ in a challenging global environment.”