Commonwealth Bank group executive of marketing and strategy has taken up the role of chief executive at the major bank’s New Zealand-based subsidiary.
ASB Bank has appointed Vittoria Shortt, a senior banking industry executive who has held several senior roles including a three-year stint as chief executive of retail at Bankwest, to its leadership team.
Most recently, Ms Shortt reported directly to CBA chief executive Ian Narev in her role as group executive of marketing and strategy.
Commenting on the new appointment, Mr Narev said, “Vittoria’s breadth of operating and functional experience during more than 15 years with the CBA Group shows our commitment to developing high-calibre leaders.
“She has consistently demonstrated excellent values and delivered high-quality results.
"The ASB board has chosen an ideal candidate to lead a business that has thrived during Barbara Chapman’s tenure as CEO.”
The New Zealand-born appointee, who joined CBA in 2002, said that she looks forward to leading ASB Bank as it aims to grow and develop.
“As one of New Zealand’s oldest and most respected financial institutions, ASB’s brand, culture and team are unmatched in the market,” Ms Shortt said.
“With a highly talented and diverse team of people, and a culture that combines performance excellence with a robust set of shared values, ASB is well positioned to build on its impressive growth story.
“I am very excited to be returning home with my family and to be leading ASB as it continues to transform, innovate and accelerate the pace of change across the business.”
ASB chairman Gavin Walker welcomed Ms Shortt to the subsidiary’s leadership team and hopes she will build upon the work of Ms Chapman.
“The board conducted an extensive search to identify the person most capable of leading ASB and building on the considerable momentum we have achieved under Barbara’s leadership over the past seven years,” Mr Walker said.
“Vittoria is an accomplished, values-driven leader, with an outstanding record of profitably growing businesses, delivering innovative solutions and managing complex business units.
“As a New Zealander, she has a great understanding of ASB’s unique heritage and culture, and there is no doubt that she will be approaching her new role with the necessary drive and passion to continue building the bank for the next generation.”
Ms Shortt also took the opportunity to acknowledge the work of her predecessor.
“I also wish to extend my personal thanks to Barbara for all she has achieved during her tenure,” she said.
“Without her leadership, ASB would not be so strongly positioned to address the challenges and opportunities ahead of us.”
The new chief executive will assume her role in February 2018.
As the US election cycle draws to its close, investors must avoid getting distracted by the bluster around the result. ...