Aus­tralia ANZ’s boss Mike Smith to step down af­ter eight years at helm

The China Post - - WORLD BUSINESS -

Aus­tralian bank­ing gi­ant ANZ’s chief ex­ec­u­tive Mike Smith, who over­saw a big push into Asia, said he was step­ping down Thurs­day af­ter eight years in the top job.

Eng­land-born Smith will be re­placed by chief fi­nan­cial of­fi­cer Shayne El­liott on Jan. 1, 2016 but will serve as a non-ex­ec­u­tive ad­viser to the Aus­tralia and New Zealand Bank­ing Group’s board for at least a year due to his “in­valu­able un­der­stand­ing of and con­nec­tions in Asia,” the bank said.

Chair­man David Gon­ski praised Smith for his ef­forts in steer­ing the com­pany — which has a mar­ket cap­i­tal­iza­tion of AU$78.1 bil­lion —

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