ANZ has switched up its management structure for its Australia business, with the company saying the change is designed to help it better navigate the challenges facing the sector following the royal commission.
As part of the changes, current group executives Mark Hand and Maile Carnegie will share responsibility for the financial performance of ANZ’s business in Australia.
Mr Hand has been appointed group executive, Australia Retail and Commercial Banking while Mr Carnegie will take on an expanded role as group executive, Digital and Australia Transformation.
ANZ said the organisational changes would also enable it to take advantage of current market opportunities.
ANZ CEO Shayne Elliott said the transformation of the Australia business to succeed in the new operating environment is both the biggest challenge and opportunity for ANZ.
“It was clear that retaining a single governance and accountability structure is no longer suitable given the size and complexity of the challenges facing domestic banking in Australia,” he said.
“We have made significant progress in recent years, particularly with the roll out of Agile work methods; however, we know there are significant opportunities available for the bank that best responds to the changing needs of retail and business customers in Australia.”
Mr Elliott added Mr Hand and Mr Carnegie are both experienced executives with a strong track-record at the bank.
“I’m confident these changes will not only improve the services and products we provide our customers but also help us better meet the expectations of the broader community,” he concluded.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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