Movers & Shakers, Financial Services | May – June, 2023

Maria Milosavljevic
ANZ's newly appointed CISO, Maria Milosavljevic

ANZ appoints current Department of Defence data chief to lead cyber function; the ASX finds its new standalone CIO; and AMP consolidates its CFO and Transformation roles.


– ANZ has appointed public sector veteran Maria Milosavljevic to serve as its next cyber chief.

As ANZ’s next Chief Information Security Officer (CISO), Milosavljevic will be charged with building out the bank’s information security strategy, alongside supporting its digital transformation agenda.

She will report directly to ANZ’s group executive technology, Gerard Florian.

Milosavljevic joins the major bank from the public sector, currently serving as the Defence Department’s inaugural Chief Data Integration Officer.

Prior to joining Defence, the long-time public servant was CISO and Chief Data Officer at Services Australia, and previously served as the NSW Government’s inaugural CISO, where she established a new whole-of-government function responsible for cybersecurity.

Milosavljevic replaces Lynwen Connick as ANZ’s CISO. Connick, who is set to retire in October, served six years in the role.

Commenting on her new appointment in a LinkedIn post, Milosavljevic said she wasprivileged to soon follow in Lynwen Connick’s footsteps”.

“I’ve loved my time in Defence”, Milosavljevic added in her post, “a truly worthy organisation filled with very committed individuals who are inspirational in the truest sense of the word.”

She added that she will take time off before her commencing with ANZ at the end of August.

Florian praised Connick for her “significant impact on the bank over the past six years”.

“Her cybersecurity expertise has been a tremendous asset for both ANZ and our customers at a time of great change in the industry, and we wish her continued success in her retirement,” Florian said.


The Australian Securities Exchange (ASX) has appointed the current lead of its CHESS Replacement Solution Design program, Tim Whiteley, as its next Chief Information Officer (CIO).

The appointment of Whiteley to the new role comes two months after the ASX announced it would create a dedicated CIO role to oversee internal technology uplift. The role was split off from the group executive, technology and data and CIO function.

As CIO, Whiteley will oversee the organisation’s backend technology functions, data security, data governance, and enterprise technology infrastructure, as well as lead the delivery of the stock exchange’s multi-year technology modernisation and capability uplift program.

The creation of this standalone technology division to be led by a dedicated CIO, would, the ASX said in a March announcement, create a “single point of senior executive focus and accountability for delivering ASX’s enterprise-wide technology renewal program”.

Whiteley, as CIO, reports directly to ASX managing director and chief executive Helen Lofthouse.

Whiteley was originally appointed by the ASX in November 2022 to head its CHESS Replacement Solution Design program, following its decision late last year to entirely rejig its chosen blockchain-based solution.

Before joining the ASX, Whiteley served nearly seven years at Westpac, initially heading application development and consolidation of its digital, data, customer, payments retail and business banking dev teams before his promotion to lead the development of its Customer Service Hub.

Prior to joining Westpac, he served as CBA’s EGM for service development.

Lofthouse praised Whiteley, who is approaching his first full year at the ASX, as “a highly skilled technology transformation executive”, acknowledging his more than 25 years’ experience in business and technology roles across Australia’s financial services sector.

“I am pleased to be making this announcement after a competitive global search with very high-quality candidates,” Lofthouse added.

“Tim’s deep expertise in technology and project execution in the financial services industry will be invaluable as ASX looks to contemporise its technology and deliver critical market infrastructure.”

The ASX confirmed that Whiteley would continue in his role as lead of the CHESS replacement program “until a new leadership team structure is formed”.


– AMP has announced it will consolidate the roles of Chief Financial Officer (CFO) and Group Executive Transformation, with current Blair Vernon appointed to the expanded role, effective from 3 July 2023.

First joining AMP in 2009, Vernon most recently served as Group Executive, Transformation & New Zealand. From August 2020 to January 2021, he was Acting Chief Executive of AMP Australia, responsible for AMP’s wealth management and banking divisions.

Prior to this, he was Managing Director of AMP Wealth Management, New Zealand from January 2017.

In the newly combined role, Vernon will be responsible for leading the financial and strategic activities of the organisation across financial control, statutory and regulatory reporting, performance reporting, tax, investor relations, treasury, M&A, strategic sourcing and workplace experience and transformation functions.

He will also lead the “well-advanced balance sheet and cost base reviews announced in March 2023”, the company said.

Vernon replaces Peter Fredricson as CFO, following the latter’s decision to retire “after a 40-year career”, leaving AMP after serving just over a year in the role.

AMP said the consolidation of the roles would serve to “simplify and streamline its business” with a focus on its retail banking and wealth management businesses, particularly following the recent sales of the AMP Capital businesses.

The role of Chief Executive – Australian Wealth Management (AWM) will also be removed with a transition to a new operating model to occur by the end of the year and the AWM business to be dissolved.

AMP Chief Executive, Alexis George said the appointment of Vernon to the combined role would “ensure a seamless transition”.

“Blair has been the Group Executive Transformation and New Zealand and has been with AMP since 2009. He is uniquely well-placed to take on the combined role of AMP CFO along with his existing role of Transformation, having played a major role in the simplification of the business.”


– MLC Life Insurance has appointed Craig Dainton as General Manager of Customer & Adviser Operations.

MLC said the role would “deliver on the business’s deep commitment to operational excellence and an exceptional total customer experience”.

Jane Murray, MLC Life’s Chief Operating and People Officer, said the appointment “connects our industry-leading technology with our commitment to put the customer at the centre of our business.”

“Within his most recent experiences at AMP, Craig has led large operations and change teams and has an outstanding track record for delivery.”

Dainton, a 25-year veteran of the financial services industry, most recently served as AMP’s Deputy CFO, as well as in several senior roles in operations, finance, remediation and transformation within the company.

Prior to this, he held senior roles at HBA, National Mutual, and AXA.

“Craig’s appointment is the next step in building on our significant investment in a state-of-the-art, single unifying platform that provides the functionality to deliver on our streamlined customer-centric vision and deliver a better experience for our customers, advisers and partners,” Murray said.


– Hume Bank is on the hunt for a new Head of Transformation, reporting directly to the bank’s Chief Innovation Officer.

The role will be based at Hume’s head office in Albury, NSW.

The role will lead the implementation of transformational delivery that supports the bank’s strategic priorities and associated business plans.

“The Head of Transformation (HoT) has a significant role in the design of future state; the formulation, execution and achievement of strategic priorities and associated business plans,” Hume said.

“The HoT will lead the implementation of transformational delivery, uplift the function and ensure project and change methodologies are fit for purpose, sharp and adherence is efficient.”

Applications close on 12 June 2023 with submissions to be made via


The Federal Government has reappointed Australian Competition and Consumer Commission (ACCC) Deputy Chair Mick Keogh for a further five-year term, commencing from 30 May 2023.

Keogh was appointed Deputy Chair of the ACCC in 2018, following a two-year stint as part-time Commissioner from early 2016.

ACCC chair Gina Cass-Gottlieb praised her deputy’s contributions in the agricultural and small business space, “including our Murray-Darling Basin water trading inquiry, our agriculture-focused market studies, and our activities in competition exemptions, mergers, product safety and enforcement.”

“Mick is well-known to the agricultural and small business sectors and has a deep understanding of the issues impacting them.”

Prior to his appointment to the ACCC, Keogh notched up more than 30 years’ experience in agricultural policy and research, including 15 years as Executive Director of the Australian Farm Institute, an independent policy institute that conducted research into issues of importance to Australian agriculture and regional Australia.


– ANZ has appointed Holly Kramer to its boards as a Non-Executive Director

ANZ acknowledged Kramer’s considerable experience in board roles, including her current roles as a director at Woolworths Group, Fonterra Co-op Limited, and Endeavour Group.

Previously, Kramer held roles as Chair of Lendi Group, Deputy Chair of Australia Post and Director of AMP Limited and Nine Group.

Kramer also previously served as Chief Executive of retailer Best and Less, and prior to this in various senior customer-facing roles at Telstra, Ford and Pacific Brands.

ANZ chair Paul O’Sullivan said: “I am very pleased to have Holly join the Boards. She has extensive experience as a board director, having chaired remuneration, sustainability, and audit and risk committees on a range of major boards.

“She also brings a strong focus on people, customers and culture, as well as extensive experience in retail and digital channels. I am sure she will make a significant contribution to the Boards.”


– Teachers Mutual Bank has appointed Virginia Marshall to its board.

TMB in a statement said the appointment of Marshall would “[bolster] the Board’s financial and audit skill set, bringing with her more than 20 years’ experience across financial services, property and asset management, and technology companies.”

Marshall previously served as Deputy CFO for Westpac’s Consumer Division as well as CFO of non-bank lender, Society One.

TMB Chair Maree O’Halloran welcomed Marshall, recognising her “experience as a CFO, her deep interest in sustainability and a circular economy [that] aligns with the purpose and values of Teachers Mutual Bank Limited”.

“Teachers Mutual Bank Limited has a long-standing commitment to socially responsible banking and we welcome Virginia’s positive and constructive contribution as we continue the strong growth of our mutual bank.”


The Insurance Council of Australia (ICA) has appointed Chief Executive of Zurich for Australia and New Zealand, Justin Delaney, and Group Managing Director and CEO of Auto & General for Asia Pacific, Ram Kangatharan to its board for 12-month terms.

Delaney has served as Chief Executive of Zurich since July 2021, and brings with him more than 25 years’ experience in financial services in executive roles.

Kangatharan joined Auto & General in 2012 following five years at the Bank of Queensland, where he was Chief Financial Officer and then Chief Operating Officer.

The pair replace outgoing ICA board member, Hugo Schreuder, Youi’s Chief Executive.

ICA President Nick Hawkins said the new board appointees “bring extensive experience in both general insurance and financial services to the Board at what is a pivotal time for the general insurance industry”.


– The Financial Services Council (FSC) has appointed Kelly Power, Chief Executive Officer of Colonial First State Superannuation, to its board.

Power has amassed more than 20 years’ experience in the financial services sector, and was appointed in 2020 to transform CFS Super and Investments business. Prior to joining Colonial First State, Power was the Head of Platforms at BT Financial Group, where she also held a number of other executive management roles.

FSC Chair David Bryant said the board was “delighted to have someone of Kelly’s calibre and experience in the superannuation, financial advice and platforms sectors joining the FSC Board.”

“As a senior industry leader with a commitment to placing the interests of consumers at the forefront of policy development, Kelly will make an invaluable contribution as the FSC continues to lead national debates.”


The Financial Services Institute of Australasia (FINSIA) has elected Vanessa Beggs, Australian Banking Association Deputy CEO and COO, to its board for a three-year term, alongside the re-election of current President David Cox and Vice President Grant Cairns in a recent AGM.

Professor Robina Xavier, a member of FINSIA’s board since 2017, also retired at the AGM, and did not seek re-election for a new term.

Beggs has served in the financial services industry for more than 20 years, holding senior roles in a variety of organisations prior to joining the Australian Banking Association in her current role.

“With her deep experience and knowledge in governance, strategy, finance and developing capability, Vanessa is keen to see FINSIA strengthen its role as a leading membership body for financial services professionals in Australia and New Zealand,” FINSIA said in a statement.


– Macquarie Group has announced the appointment of Susan Lloyd-Hurwitz to its board.

The Macquarie board welcomed the appointment of Lloyd-Hurwitz, a former Mirvac Chief Executive (serving more than a decade in the role), who “brings significant global investment and real estate sector expertise to the boards”.

“Loyd-Hurwitz has had a long corporate and community career that spans more than 30 years of experience in Australia, Europe and the USA,” Macquarie said.

She was previously the managing director of Europe at LaSalle Investment Management and before that held senior executive roles at Macquarie Group and Lend Lease globally.

Macquarie Group Chair, Glenn Stevens, commented: “Ensuring that the Board is an effective shareholder steward for a business as diverse as Macquarie requires balancing experience and longevity with fresh perspectives underpinned by a diversity of expertise.”

“I can say with absolute confidence that shareholders are well-served by the Board, which is hard-working and diligent in fulfilling its responsibilities.”