The Big 4 bank has appointed Kai Yang as its new chief data and AI officer, recruiting him from HSBC, where CEO Nuno Matos also previously worked.
As first reported by Capital Brief, ANZ has appointed Yang to the newly-created role of chief data and AI officer.
He will join from HSBC, where he is chief data and analytics officer for Asia and the Middle East, overseeing its end-to-end data and analytics strategy. Currently based in Hong Kong, Yang will move to Sydney to commence the role in July.
According to an ANZ spokesperson, the new AI leadership role reflects the importance of data and AI to the bank’s strategy and future growth outlook. It also positions the bank to compete with peers increasingly focused on AI.
Yang’s responsibilities will include leading ANZ’s enterprise-wide data and AI agenda, supporting a lift in the bank’s data and AI capability, strengthening governance and controls, and accelerating the responsible use of data and AI.
Matos, who became ANZ CEO in May last year after succeeding Shayne Elliott, also previously worked at HSBC. His most recent role saw him based in Hong Kong as CEO of wealth and personal banking.
This is not the first HSBC hire under Matos, with Donald Patra appointed as chief information officer in October last year, also bringing extensive experience in data and AI.
In his new role, Yang will report to Patra, who in turn reports to Matos.
Yang brings over 25 years of experience in data strategy, data governance, data engineering, analytics and AI.
Prior to joining HSBC, he held several leadership roles at Commonwealth Bank (CBA), including group chief data officer and CommInsure chief risk officer. He also served in other executive roles across wealth management, risk, treasury and enterprise services across his more than 16 years at the bank.
AI and the banks
AI has been a major theme for Australia’s big banks this year, with CBA and others caught up in a loan introducer scandal involving mortgage documents allegedly falsified using new AI tools.
Also today, CBA announced that it has deployed an AI system designed to help detect emerging fraud and scam patterns in transaction and payments data.
Several rounds of job cuts at the major banks have also been attributed to efficiencies gleaned from AI.
In February, it was announced that CBA had cut approximately 300 jobs across its retail, business and institutional banking and human resources departments, with the majority of impacted roles in technology. At the time, it also unveiled its Future Workforce program as a three-year, $90 million initiative to help employees adapt to technological change, particularly AI, by mapping their skills, identifying career pathways and providing targeted training.
More recently, Bendigo and Adelaide Bank announced strategic partnerships with technology consultancies Infosys and Genpact, with the Finance Sector Union (FSU) estimating it could affect hundreds of staff members.
Again, with the partnerships aimed at improving IT service delivery and expanding access to software and AI capabilities, the bank said the deals would affect staff across its technology and business operations teams.
