PricewaterhouseCoopers Hires Ex-ANZ CEO Mike Smith as AdviserBy
PricewaterhouseCoopers LLP’s Australia unit has hired former Australia & New Zealand Banking Group Ltd. Chief Executive Officer Mike Smith as a senior adviser to support its Asia practice.
Smith, who led ANZ for eight years before retiring at the end of last year, will also work with PwC clients on leadership, board and investor engagement, the firm said in a statement on its website Wednesday.
Smith, 60, was the architect of ANZ’s Asian expansion after joining from HSBC Holdings Plc. While that increased revenue, it dragged down the lender’s return on equity, prompting his successor Shayne Elliott to reduce the loan book in the region as part of a plan to free up capital and increase profitability.