New boss for ANZ National Bank

ANZ National's new chief executive Jenny Fagg. Photo supplied

ANZ Banking Group has announced a new chief executive for its New Zealand operations.

Jenny Fagg, currently the deputy chief executive officer of ANZ National and managing director of retail distribution will take over the position from Graham Hodges.

Fagg, 44, was previously managing director of Consumer Finance for ANZ in Australia.

ANZ National chairman Dryden Spring said the new chief executive was "familiar with the New Zealand business and is recognised as one of ANZ Group's most talented executives with a strong background in retail banking in Australia and New Zealand and in risk management.

"I want to thank Graham Hodges for the very significant contribution he has made to ANZ National since his appointment in 2005. His strong background as a banker, and economist, has been invaluable to the business. He leaves ANZ National in a profitable and well-capitalised position with a strong balance sheet, and well placed to navigate through today's difficult economic environment," said Spring.

Graham Hodges has been named deputy chief executive for the ANZ group after the incumbent, Bob Edgar, decided to retire.

Hodges has been chief executive of and managing director of ANZ National Bank since late 2005.

He will now be responsible for driving the group's operational performance and managing key client and other external relationships, said the bank.

- HERALD ONLINE