ANZ Names Shayne Elliott As CEO, Succeeding Mike Smith

(RTTNews) - Australia and New Zealand Banking Group Ltd. (ANZBY.PK, ANZ.AX) or ANZ said Wednesday that Mike Smith will step down as the company's chief executive officer at the end of December 2015, after eight years in the role. He will be succeeded by Shayne Elliott, the bank's chief financial officer, who will also join the company's board on January 1, 2016.

ANZ said it took the decision to appoint Elliott as CEO following a detailed review of external and internal candidates.

As CFO, Elliott is currently responsible for all aspects of the company's finance as well as group strategy, legal, treasury, investor relations and mergers and acquisitions. He was appointed as the company's CFO in June 2012.

Originally from New Zealand, Elliott has over thirty years' experience in international banking including in Australia, New Zealand, Asia Pacific and the Middle East. He joined ANZ as CEO Institutional in June 2009. Prior to joining ANZ, Elliott was a senior executive with the investment bank EFG Hermes.

Commenting on Elliott's appointment, ANZ Chairman David Gonski said, "Shayne's international banking and financial experience, together with his background in Australia and New Zealand makes him the right person to lead ANZ in a challenging global environment."

Meanwhile, Smith will be retained as a non-executive advisor to the ANZ board, initially for a period of one year.

"Given his extensive knowledge and contacts in the region, ANZ will engage Mr Smith on a 12 month services agreement from 11 July 2016 to act as an advisor to the Board on International Affairs," ANZ said.

On the Australian Securities Exchange, ANZ.AX is trading at A$27.59, up A$0.51 or 1.88 percent on a volume of 3.72 million shares.