Ann: OFFICE: ANZ: Management changes at ANZ

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ANZ
16/02/2012 08:30
OFFICE

REL: 0830 HRS Australia and New Zealand Banking Group Limited

OFFICE: ANZ: Management changes at ANZ

Media Release

For Release: 15 February 2012

Management changes at ANZ

ANZ today announced a number of senior management and organisational changes
to accelerate its super regional strategy, support its growth and
transformation, and strengthen succession planning within its senior
leadership group.

The following senior appointments and organisational changes are effective 1
March 2012:

- Shayne Elliott, currently CEO Institutional, will succeed Peter Marriott as
Chief Financial Officer.  Mr Elliott will initially take up the role of Chief
Financial Officer Designate to complete a three-month transition with Mr
Marriott who leaves ANZ on 31 May.  Mr Elliott will also have responsibility
for Strategy from 1 March.
- Alex Thursby will take up an expanded role as CEO Global Institutional and
Asia Pacific Europe and America (APEA) focussed on ANZ's largest
multi-national clients globally and the growth and transformation of ANZ's
international franchise.  In this role Mr Thursby will continue to have
responsibility for Retail and Commercial in Asia Pacific, and Partnerships.

- Joyce Phillips, currently Group Managing Director Strategy, M&A, Marketing
and Innovation, will be appointed to a new role as CEO Global Wealth and
Private with responsibility for wealth management and private banking
globally.  Ms Phillips will retain responsibility for Marketing, Innovation
and Digital.

Mr Elliott, Mr Thursby and Ms Phillips remain members of ANZ's Management
Board reporting to ANZ Chief Executive Officer Mike Smith.

Shayne Elliott's appointment follows agreement with Peter Marriott over his
plan to pursue a non-executive career later this year after a distinguished
contribution to ANZ including 15 years as Chief Financial Officer.

Commenting on the changes Mr Smith said: "These changes support our super
regional aspiration at a time banking globally is undergoing a major upheaval
as a result of low credit growth, funding challenges and new regulation.
This creates significant opportunities for ANZ however we also need to manage
our business differently - we need to be leaner and more innovative in this
new and more difficult environment.

"These management and organisational changes create a simpler structure for
the business that gives greater focus to areas of growth and opportunity.
They will allow us to be more coordinated and more effective including
strengthening the connection between strategy, finance and treasury.  Peter
Marriott's departure also provides some of our most senior executives with
broader experiences that strengthen succession planning within the Group.

"Although we have the benefit of Peter's presence for several more months, I
do want to personally acknowledge the major contribution he has made to the
Group. During the past 15 years, he has built a reputation as one of
Australia's leading Chief Financial Officers.  He has worked successfully
with three chief executives at ANZ during that time and we owe him a
considerable debt of gratitude.

- 2 -

"It is pleasing however that ANZ now has the management depth and experience
to make these changes through internal succession. This provides strategic
continuity and helps maintain momentum in the execution of our strategy.

"Since 2009, Shayne Elliott has put in place a strong management team in
Institutional and has completed a strategic turn-around of the business
focused on becoming the best bank for clients who are dependent on trade or
capital flows in the region of Asia Pacific, Australia and New Zealand.  This
includes a focus on three growth segments - natural resources, agriculture
and infrastructure.

"Shayne brings strong strategic and performance management skills to his new
role together with a track record of creating shareholder value in complex
international businesses.  By creating a more integrated approach between
strategy, finance and treasury, it gives us a fresh perspective on both the
opportunities we have and the challenges we face in the current environment.

"Alex Thursby is one our most experienced international bankers with a track
record of building major businesses in the Asia Pacific region.  He knows
Institutional well having acted as CEO Institutional during 2008 and 2009
where he led a major remediation program and brought renewed customer focus
and financial discipline to the business.

"With Institutional accounting for 55% of APEA's earnings, his new role will
focus on the delivery of our goal to source 25-30% of Group earnings from
APEA by 2017.  It will also consolidate delivery of the seamless cross-border
proposition we have been building for our largest global clients in
Australia, New Zealand, Asia Pacific, Europe and America.

"Wealth represents a strategic opportunity for ANZ and by establishing it as
a global line of business it creates a distinctive approach to unlocking
further value from our super regional strategy.

"Joyce Phillips brings significant knowledge and experience to the Wealth
business which will allow us to quickly build momentum around this
opportunity.  She played a leading role in our acquisition of the majority
shareholding in ING Australia in 2009 and was a board director of OnePath.
Joyce also has extensive international experience having held senior
executive roles at American Life Insurance Company and Citigroup where she
was responsible for Citi's global retail banking franchise," Mr Smith said.

In other changes announced today and effective on 1 March:

- Corporate Banking Australia, previously part of Institutional, will report
to Mark Whelan, Managing Director Commercial reporting to Philip Chronican
CEO Australia. Bringing the businesses which serve the Australian commercial
and corporate business market together will enable ANZ to deliver a stronger,
more consistent customer proposition and continue to grow its market share.
- Shane Buggle will be appointed Deputy Chief Financial Officer.  Mr Buggle
is currently Chief Financial Officer Institutional having previously held a
number of senior finance roles at ANZ including Group General Manager
Finance.

For media enquiries contact:

Paul Edwards
Group GM Corporate Communications
Tel: 03-8654 9999 or 0434-070 101
Email: [email protected]

Stephen Ries
Senior Manager Media Relations
Tel: 03-8654 3659 or 0409-655 551
Email: [email protected]
End CA:00219576 For:ANZ    Type:OFFICE     Time:2012-02-16 08:30:29