Major bank announces new CEO

One of Australia's big four banks has announced the appointment of a new chief executive officer.

ANZ today announced that Mark Whelan will succeed Philip Chronican as CEO Australia, reporting to the bank's CEO, Mike Smith.

Mr Chronican intends to pursue a non-executive career following a distinguished 32 years in banking.

Mr Whelan is currently managing director of global commercial banking and has been a member of the ANZ management board since October 2014. Previously at ANZ, Mr Whelan was managing director, commercial Australia and was formerly managing director, institutional APEA, based in Hong Kong, where he was responsible for institutional, commercial and private banking across Asia Pacific, Europe and America.

David Hisco, CEO ANZ New Zealand will also assume Mr Chronican’s responsibilities as global head of retail.

Commenting on the changes, Mr Smith said, “Australia is our home market and we have continued to improve our position as a strong, stable and growing business since Phil joined us in 2009.

“ANZ’s focus on developing internal talent with deep experience in our major domestic markets and in Asia makes Mark’s appointment a natural next step. He knows Australia and Asia well, and has a track record of delivering for shareholders and for customers.

“I want to thank Phil for his contribution to ANZ’s success and for his friendship and support over the past five and a half years. Under Phil’s leadership our Australian franchise is now stronger than ever, with consistent above-system growth in home and business lending, a stronger funding profile and high levels of customer satisfaction and staff engagement.

“Mark has been part of the Australian leadership team since 2011 and will ensure continuity in our strategy and financial performance in Australia, with a strong focus driving the unique opportunities that our super regional strategy provides us.

“I’m also pleased to have David take responsibility for global retail. We have been very successful in New Zealand since the brand merger and his experience in using common approaches and common systems will help create further value in retail in Australia, New Zealand and Asia Pacific,” Mr Smith said.

Mr Whelan and Mr Hisco will take up their new responsibilities on 3 April 2015, subject to the necessary regulatory approvals.

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