Skip to content

Chairman`s & CEO`s Address to Shareholders

Document date:  Mon 21 Dec 1998
Published:  Mon 21 Dec 1998 00:00:00
Document No:  144153
Document part:  E
Market Flag:  N

HOMEX - Melbourne                                                     


Thank you Charles, and fellow shareholders, good morning. As a
relative newcomer to this country, having been here only fifteen
months, let me firstly say what a great place Australia is.

My first year as your Chief Executive has been in one of the most
interesting but challenging times in banking history. Though we are
not without scars, I believe we have come through this difficult
period well, and have ended in better shape than we began. Less than
a year ago, I outlined in this forum, five major priorities that
would be our focus over the next few years.

They are:

* To build a truly unique financial company.

* To transform technologically the way we do business.

* To make dealing with ANZ an enjoyable experience for our customers.

* To create an environment where people excel.

* And finally, and most importantly, to deliver superior performance
and value for our shareholders.

This agenda is in full motion, and we have made a good start in each
of these areas. Since I gave you an overview of the programme last
year, I would like today to dwell on one of these, that of making
dealing with ANZ an enjoyable experience for our customers.

This is an area where we have both pluses and minuses, and is one of
the most difficult in which to make a real difference. To survive and
succeed we must make a difference.

But before I do that, there have been a significant number of
additions to our senior management, during the year. I would
initially though like to thank John Ries for his contribution to ANZ.
Personally I have benefited from the practical wisdom and personal
support he has shown me over the last fifteen months. My colleagues
and I send John and his family, our best wishes for the future.

Management like a business, must regenerate itself. Over the past
year, we have been developing our senior team by promoting a number
of talented young officers into senior positions, and by recruiting
world-class people externally. I know you as shareholders, are very
interested in this so I would like to introduce each of the new
additions to our Senior Management Group.

Firstly, Peter Hawkins was elevated to Global head of Personal
Banking which is now the most successful business in the group. In
Personal Banking, Peter was joined by Larry Crawford from First Bank
Systems in the USA to run the Australia and New Zealand Branch
Network, by Kathryn Fagg as Head of Personal Banking Products, by
Greg Camm, as Head of Mortgages, then Satyendra Chelvendra, (Chelvi)
as Head of Direct Distribution, and by Rod Slater from Cadbury
Schweppes as Group Head of Marketing.

To deliver the technology and operations environment that we need for
the future, we recruited David Boyles from American Express in the
USA. To strengthen our people leadership and management, we persuaded
Elizabeth Proust to join us from the office of the Victorian Premier.
Jane Slatter joined from Telstra to become General Counsel and
Company Secretary; and Michael Domann came from National Mutual, to
head Internal Audit.

Also, Murray Horn became Chief Executive in New Zealand, Elmer Funke
Kupper took on the Risk Management challenge, and David Valentine was
appointed to lead our acquisitions and disposals programme. In the
last few days, we announced the recruitment of Alison Watkins as our
new Head of Group Strategy. Alison is currently a principal at
McKinsey in Sydney.

These new appointees join the existing members of the senior group,
and together they make a very strong team. As external corroboration
of the talent that we are beginning to build, ANZ had two executives
prominently featured as leaders of the future in the press this
month. Whereas at the beginning of the year we had no women in our
senior management group, now we have four, two of whom report
directly to me. Altogether, I am confident that we are putting
together an excellent team that will improve our performance, and
also serve us well into the next century.