Group Executive changes at ANZ

ANZ has announced a new management structure for its Australia business which the bank said will help it better navigate the challenges facing the sector. As part of these changes, current group executives Mark Hand and Maile Carnegie will share responsibility for the financial performance of ANZ's business in Australia.

Mark Hand, who was recently appointed acting group executive, Australia following the departure of Fred Ohlsson, will take on the role of group executive Australia retail and commercial banking.

Maile Carnegie, who joined ANZ from Google in 2016 as group executive digital banking, will take on an expanded role as group executive digital and Australia transformation.

Commenting on the restructure, ANZ chief executive officer Shayne Elliott said: "The continued transformation of the Australia business to succeed and thrive in this new operating environment is both the biggest challenge and opportunity for ANZ...It was clear that retaining a single governance and accountability structure is no longer suitable given the size and complexity of the challenges facing domestic banking in Australia."

He added" "Both Mark and Maile are experienced executives with a strong track-record at ANZ. I'm confident these changes will not only improve the services and products we provide our customers but also help us better meet the expectations of the broader community."

The changes are effective 1 March 2019.