ANZ promotes Kiwi executives in reshuffle

Dual-listed ANZ's stock rose 0.9 percent to $26.02 on the NZX, and has fallen 13 percent since the start of the year. Photo / Dean Purcell

Australia & New Zealand Banking Group has had a senior management reshuffle, with new group chief executive Shayne Elliott promoting two New Zealand leaders to his executive committee.

Former Aucklander Elliott became chief executive of the Australian group on Jan. 1, having previously been the bank's chief financial officer since June 2012.

David Hisco, who is currently New Zealand chief executive and global head of retail, will remain New Zealand chief executive, and has been appointed a group executive with new responsibilities for ANZ's operations in the Pacific and international retail.

New Zealand retail and business banking managing director Fred Ohlsson has also been promoted to the role of group executive in the Australia division. He also joins Elliott's newly formed group executive committee.

Ohlsson joined ANZ in 2001 and has held senior roles in Esanda Finance and commercial banking. He came to ANZ New Zealand in 2010 to lead business banking, which in 2013 was expanded to include retail.

John Body, the former managing director of wealth and private bank for New Zealand, will replace Ohlsson, subject to no objections from the Reserve Bank.

Body has worked for ANZ for more than 30 years in a variety of roles, including the markets business, and has held senior positions in Singapore, Melbourne and New Zealand.

Under John's leadership, the wealth business has grown to be New Zealand's leading KiwiSaver provider and to be the country's largest fund manager.

"ANZ New Zealand continues to be a great breeding ground for international executives," Hisco said.

"Under Fred's leadership, market share in retail and business banking has continued to grow. Almost one in two New Zealanders now has some kind of financial relationship with ANZ and we're number one in mortgages in every major city in the country.

Dual-listed ANZ's stock rose 0.9 percent to $26.02 on the NZX, and has fallen 13 percent since the start of the year.

Shayne Elliott, CEO of ANZ Banking Group.