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Banking sector sees leadership shake-up with new board reshuffles

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By Jessica Penny
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3 minute read

ANZ and BOQ are both welcoming non-executive members next month, while a Macquarie director has announced their intention to step down.

ANZ has announced that Richard Gibb will join the boards of ANZ Group Holdings Limited, Australia and New Zealand Banking Group Limited, and ANZ BH as a non-executive director, effective 15 February.

Mr Gibb joins the bank from Credit Suisse Australia as chief executive officer, with ANZ confirming that he will step down from the role, after a four-year tenure, at the end of January.

He brings an extensive global banking career to his new capacity, having held senior roles at Deutsche Bank from 2010 to 2019, and at Merrill Lynch & Co from 1997 to 2009.

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Commenting on the appointment, ANZ Group chairman Paul O’Sullivan said: “Richard’s extensive global banking experience will further strengthen the banking experience on the boards and we look forward to his contribution.”

Meanwhile, Macquarie Group is saying goodbye to board member Nicola Wakefield Evans, who announced her intention to step down effective 29 February. In July 2023, Ms Wakefield Evans also retired from the Macquarie Bank’s board.

Macquarie on Monday confirmed that Ms Wakefield Evans has now been appointed a member of the board of guardians of Australia’s Future Fund and will assume that role from 1 March.

Having been an independent voting director on the Macquarie Group board since February 2014 and as previously announced, her tenure was expected to conclude in 2024, according to the bank.

Speaking on her resignation, group chair Glenn Stevens commented: “I would like to thank Nicola for her significant contributions to Macquarie and our boards over the past decade.”

Mr Stevens continued: “Nicola’s extensive experience and expertise as a director and her exposure and insights across a number of sectors and internationally have been very valuable for Macquarie and I have personally appreciated Nicola’s counsel on a broad range of matters. Her colleagues at Macquarie wish her well in her new role.”

Bank of Queensland Limited (BOQ) has also announced a board reshuffle with the appointment of former deputy premier of Queensland Andrew Fraser as a non-executive director of its board, effective from 8 February.

Mr Fraser is currently chair of Australian Retirement Trust and a director of BESIX Watpac, the Brisbane Broncos, and is president of Motorsport Australia. He is, additionally, chair of Orange Sky Australia and a director of two charities – Australians for Indigenous Constitutional Recognition and the Hear and Say Centre.

In 2022, he was appointed chancellor of Griffith University, the first graduate to hold the role.

Moreover, Mr Fraser served as a minister in two governments, including as treasurer of Queensland from 2007 to 2012.

“On behalf of the board, I am delighted to confirm the appointment of Andrew Fraser as an independent non-executive director to the BOQ board,” commented BOQ chairman Warwick Negus.

“Andrew brings a wealth of experience to the BOQ board and we are pleased he has joined us in this our 150th year,” Mr Negus added.

Banking sector sees leadership shake-up with new board reshuffles

ANZ and BOQ are both welcoming non-executive members next month, while a Macquarie director has announced their intention to step down.

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