ANZ Names Acting CFO Before Shayne Elliott Assumes Leadershipby
Deputy CEO Graham Hodges to become acting CFO from January
Search for permanent CFO expected to be completed in 2016
Australian & New Zealand Banking Group Ltd. named Graham Hodges as acting chief financial officer to replace Shayne Elliott, who becomes the bank’s chief executive officer in January.
Hodges, the bank’s deputy CEO since May 2009, will assume responsibility for finance, group strategy, legal, treasury, investor relations and mergers and acquisitions, ANZ said in a statement on Friday. He will retain his role as deputy CEO as well, according to Melbourne-based spokesman Stephen Ries.
ANZ Bank, Australia’s third-largest bank by market value, expects to complete the search for a permanent CFO next year, it said. Elliott is replacing the retiring Mike Smith, who championed an expansion into Asia over the course of his eight years leading the bank.
One of the challenges facing the bank’s new leadership is bolstering returns from its overseas operations, which consumed nearly a third of the bank’s capital in the year to September, while accounting for less than one-fifth of profits. The lender is also seeking to win more market share in New South Wales, Australia’s largest state economy.