ANZ pays 10% in Dividends, page-233

Fully concur! Smith's misadventure in Asia has put ANZ behind the 8 ball in solidifying its position domestically . Coupled with this he has made some horrendous decisions in the leadership he appointed in running key parts of the business. Joyce Philips for example was an absolute failure. She had no wealth management knowledge, had scant disregard for understanding the nuances of the local market & was occupying her 4 years at considerable expense with matters of fluff (affirmative action initiatives, obscure digital strategies). Likewise that other yank Smith hired Andrew Geczy, by all accounts he was merely a corporate tourist, travelling the world at considerable expense schmoozing aimlessly but actually achieving bugger all!

Elliott however seems to have his head screwed on & has rightfully ditched these highly paid executives who have left no lasting legacy or added value. Let;s hope he ruthlessly unwinds the Asian businesses sooner rather than later, so ANZ can once again focus on its core competencies.