ANZ ends single governance and accountability structure

ANZ has moved to end its single governance and accountability structure in Australia.

In doing so, the big banking group announced a key change to its management structure which will see current group executive, Mark Hand and Maile Carnegie sharing responsibility for the financial performance of the company’s business in Australia.

It said Hand had been appointed Group Executive Australia Retail and Commercial Banking alongside Carnegie to take on an expanded role as Group Executive Digital and Australia Transformation.

Commenting on the move, ANZ chief executive, Shayne Elliott said the continued transformation of the Australia made it clear that retaining a single governance and accountability structure was no longer suitable given the size and complexity of the challenges facing domestic banking in Australia.

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