Change at the Top: ANZ Bank Facing Leadership Change

Exciting developments in the Australian banking landscape: The long-serving CEO of the ANZ Group, Shayne Elliott, will step down after nine years. This announcement, made known by the Australian financial magazine Australian Financial Review, is causing a stir in the banking world. According to insider information, the announcement of his retirement is expected to take place later this week. However, the sources of these details have not yet been disclosed. Surprisingly, ANZ plans to seek an external candidate for the vacant position, which will undoubtedly add intrigue to the selection process. With the leadership change at ANZ, three of Australia's largest banks could have new leaders within a year. Previously, National Australia Bank and Westpac Banking had already welcomed new CEOs. These restructurings come at a time when ANZ is grappling with various controversies, such as disreputable trading behavior and allegations of manipulation in the bond market, which have led to pay cuts for some executives.