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ANZ names new treasurer as ‘cartel case’ continues

ANZ names new treasurer as ‘cartel case’ continues

The major bank has announced the appointment of a new group treasurer to replace Rick Moscati, who has been embroiled in an ongoing investigation into alleged “cartel behaviour” involving ANZ.

ANZ has appointed Adrian Went to the role of group treasurer, reporting to chief financial officer Michelle Jablko, effective as of the start of July.

Mr Went is currently responsible for credit and capital management for ANZ’s financial institutions group and has previously held senior treasury and risk roles at ANZ, which included stints as acting group treasurer, head of balance sheet management and head of market risk, New Zealand.

Commenting on Mr Went’s appointment, Ms Jablko said: “Adrian’s proven treasury experience combined with his deep knowledge of our business and capital management makes him the ideal executive to lead our treasury function during the continued transformation of ANZ.”

Mr Went replaces Rick Moscati, who is currently on leave amid the Australian Competition and Consumer Commission’s (ACCC) investigation into alleged misconduct involving ANZ.

It has been alleged that ANZ, Citigroup, Deutsche Bank and J.P. Morgan engaged in “cartel behaviour” in relation to the supply of 80.8 million shares in August 2015.

Mr Moscati’s departure from his role as ANZ group treasurer follows on from last week’s announcement that chairman of J.P. Morgan Australia Robert Priestley resigned from the ASX board, citing the “distraction” of the ACCC’s investigation as the reason for his decision.

J.P. Morgan was also said to have been involved in the alleged cartel behaviour, but it was granted immunity from the proceedings as a result of its whistleblowing on this matter.

[Related: ANZ cartel case prompts ASX resignation]

ANZ names new treasurer as ‘cartel case’ continues
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