Major bank group executive to step down

ANZ has announced that group executive, Australia, Fred Ohlsson will step down from his current role to take an extended unpaid career break after 17 years of service with the bank.

ANZ also announced that current group executive, business and private banking, Mark Hand has been appointed acting group executive, Australia, while the bank considers the “best structure for the Australia division”.

Mr Ohlsson will assist with the hand-over in January.

The outgoing executive joined ANZ in 2001 and has held senior roles in retail and commercial banking across Australia and New Zealand.

Prior to starting his current role in early 2016, Mr Ohlsson served for five years as managing director, retail and business banking in New Zealand.

Commenting on the announcement, ANZ CEO Shayne Elliott said: “Fred approached me saying that he and his wife feel that their children are at an ideal age to spend some time living in Sweden.

“While I’m disappointed Fred will be leaving, I respect his decision to put his family first and take an extended break.

“Fred is a valued colleague and can be proud of the significant contribution he has made to ANZ over many years. He has put in place a strong and diverse leadership team, and we are fortunate to have an experienced retail and commercial banker in Mark Hand to lead our Australia division.”

Mr Ohlsson added: “I’m grateful for the opportunity to be able to take a career break. My children are of an age where we can go back to Sweden for an extended period and both my wife and I feel we owe them that opportunity.”

Mr Ohlsson’s interim replacement, Mark Hand, joined ANZ in 1988 and has held senior roles across business and retail banking, credit management and internal audit in Australia and South Asia.

Mr Hand has been group executive, business and private banking, since May 2018, having previously held senior roles in ANZ’s Australia division.

The changes are effective 29 December, subject to regulatory requirements.

[Related: Bank CEO and MD resigns]