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ANZ Reorganises Senior Management

Document date:  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


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
Tel: 03-9273 6190 or 0409-655 551

For analyst enquiries contact:
Philip Gentry
Tel: 03-9273 4185 or 0411-125 474

A full copy of this Announcement and Graph is available for purchase 
from ASX Customer Service on 1 300 300 279. Charges apply.