ANZ CEO next ABA chair
The Australian Bankers’ Association (ABA) has nominated ANZ chief executive, Shayne Elliott as chair at its annual general meeting (AGM) in early December.
Elliott would succeed current ABA chair, National Australia Bank (NAB) CEO, Andrew Thorburn.
Commenting on the nomination, Elliott said: “The banking industry is working hard to build trust with customers, the community and with federal and state politicians on all sides”.
“While we have made significant improvements in recent times, rebuilding community trust is a long-term issue and change within the industry needs to be bolder and faster.”
It is convention for the chair of the ABA to rotate between the CEOs of the major banks. With the Commonwealth Bank announcing a CEO succession process, the next organisation on rotation was the ANZ.
ABA chief executive, Anna Bligh said the ABA decided to bring forward Elliott’s term for continuity rather than seek a new chair.
“There are a number of reviews and reforms to be introduced in the coming year, so consistency is important,” she said.
“I am looking forward to working closely with Mr Elliott in his new role.
Elliott’s term would begin after the ABA’s AGM in December.
He thanked Thorburn for his role as chairperson.
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