ANZ Reorganises Senior Management
Wed 03 Apr 2002
Published: Mon 08 Apr 2002 13:27:42
Document No: 188855
Document part: A
Market Flag: N
Classification: Company Administration - Other
AUSTRALIA AND NEW ZEALAND BANKING GROUP 2002-04-03 ASX-SIGNAL-G HOMEX - Melbourne +++++++++++++++++++++++++ ANZ reorganises senior management around specialised businesses and strategic priorities ANZ today announced a number of organisational changes to advance the development of its distinctive specialised business strategy. ANZ will flatten its business structure to give greater freedom and development opportunities to its senior business executives. The current two divisions, Personal Financial Services and Corporate Financial Services will be unwound, together with their infrastructures. The specialised businesses will now be grouped under senior segment heads reporting directly to the CEO: Personal Banking and Wealth Management businesses, headed by Elmer Funke Kupper Corporate Banking businesses, headed by Bob Edgar ANZ Investment Banking businesses (ANZIB), headed by Grahame Miller Consumer Finance (including cards) headed by Brian Hartzer Mortgages, headed by Greg Camm Asset Finance, headed by Elizabeth Proust Small to Medium Business, headed by Graham Hodges As a logical extension of its specialisation strategy and Restoring Customer Faith program, over the next two years within the 16 specialised businesses, ANZ will create up to 200 individual profit centres. This will take decision-making closer to the customer and will expand the opportunity for talented people to manage businesses within the Group. With the increased decentralisation of the business, there will be a corresponding strengthening of the Group centre, which will now play a more active role in strategic development, business portfolio management, senior customer representation, capital and expense allocation, performance management, risk management, and people and cultural development across the company: Peter Hawkins, Group Managing Director, will become head of Group Strategic Development, responsible for initiatives to take the specialised businesses into sustainable leadership positions, international expansion, reshaping the balance of the group business portfolio, mergers, acquisitions and disposals, and for overseeing the strategic cost agenda. Roger Davis, Group Managing Director, will take on the new important group role of Customer Origination responsible for the group's senior contact with our major customers worldwide and the origination and structuring of major corporate and investment banking transactions. This move demonstrates commitment to ANZ's vision of putting customers first. Roger will continue to be based in Sydney. Peter Marriott, Chief Financial Officer, will be responsible for group financial performance, resource allocation, and for high-level controls in addition to his normal responsibilities. Mark Lawrence, Chief Risk Officer; Shane Freeman, Head of People Capital; and Gerard Brown, Head of Corporate Affairs, will continue to report to the CEO in their current roles. The operational foundation of the Group will also be strengthened with David Boyles becoming Chief Operations Officer reporting to the CEO with responsibility for generic operations, technology and shared services. David will pursue a broad agenda across the Group to advance quality and productivity, to reengineer operational processes and technology around customers, to streamline operations, and to outsource and partner with others to reduce costs and to grow revenues from operational services. A new Group Leadership team will replace the former Executive Management Committee, and comprises the twelve most senior executives and the CEO: David Boyles Greg Camm Roger Davis Bob Edgar Shane Freeman Elmer Funke Kupper Brian Hartzer Peter Hawkins Mark Lawrence Peter Marriott Grahame Miller Elizabeth Proust Announcing the changes, ANZ Chief Executive Officer Mr John McFarlane said: "ANZ has become distinctive strategically, with a growing reputation for execution, our performance culture and for the quality of our senior talent. We are now entering the next phase in the development of our specialisation strategy. We are therefore positioning ANZ to take advantage of the growth opportunities that will present themselves in the coming business cycle domestically and internationally, by giving our senior executives new opportunities to make a unique contribution to the Group." The new group structure is effective immediately. For media enquiries contact: Rita Zonius MEDIA RELATIONS MANAGER Tel: 03-9273 6190 or 0409-655 551 Email: email@example.com For analyst enquiries contact: Philip Gentry HEAD OF INVESTOR RELATIONS Tel: 03-9273 4185 or 0411-125 474 Email: firstname.lastname@example.org A full copy of this Announcement and Graph is available for purchase from ASX Customer Service on 1 300 300 279. Charges apply.