On Wednesday, the major bank confirmed that Farhan Faruqui – ANZ’s current group executive international – will take over the role from acting CFO Shane Buggle, who is set to retire this year.
“After a comprehensive global search, I’m pleased to be able to appoint one of our most experienced executives with a long history of delivering outstanding results in highly complex environments to this important leadership position,” ANZ CEO Shayne Elliot said.
“Farhan has played a crucial role in the reshaping of ANZ’s institutional and international business as a critical part of our overall franchise.
“I’m confident his strong financial acumen, strategic insight and fresh thinking will be of great benefit to our shareholders and our customers.”
Prior to joining ANZ in 2014, Mr Faruqui held a number of senior roles at Citigroup, including head of Citi’s corporate and investment bank in Asia Pacific, and was also country officer for several countries in Africa and Europe.
“I’m humbled to have been asked to lead ANZ’s world-class finance function,” Mr Faruqui said.
“I want to thank the international team for their outstanding effort over the past few years in reshaping the international business. While I will miss them, I look forward to being part of their future success, albeit from a different vantage point, as we build on profitable growth in our target segments across the bank.”
Mr Elliot also paid tribute to Mr Buggle who has worked with ANZ since 2012.
“Having served the bank with distinction in senior finance and audit roles for more than two decades, Shane has done an outstanding job since stepping in as CFO earlier this year,” he said.
“He is highly regarded by our people, particularly his colleagues on the executive team as well as the board, and I will personally miss his counsel, strategic insight and good humour.
“Shane will retire from the bank after transitioning his responsibilities to Farhan, and I wish him and his family well for the future.”
