ANZ names next CEO as Elliot era draws to close; Resimac announces long-awaited permanent appointee to CEO vacancy; TAL creates lead role for new Consumer and Growth team.
Executive
◼️ ANZ Group has announced Nuno Matos as its next chief executive, with incumbent CEO Shayne Elliot set to retire by the middle of 2025.
Matos is a career banker with more than 30 years’ experience across retail, commercial and wholesale operations. Over the last decade he has held various executive roles at multinational banking giant HSBC, most recently as head of wealth and personal banking, based within the firm’s Hong Kong office.
Matos began his career in his native Portugal as an analyst in the banking supervision department of Banco de Portugal, followed by nearly two-decade run with banking giant Santander across its South America, Europe and US divisions.
The choice of an external hire (straying from the other big fours, who have opted for internal promotions) for CEO was noted by ANZ group chair Paul O’Sullivan as “culmination of long-term systematic work by the board on leadership succession”.
“Having assessed multiple external and internal candidates, we know Nuno is the right person to build on the transformation already well progressed under the leadership of Shayne and his team.”
O’Sullivan recognised Matos’s prior experience in business, risk and technology transformations – “a significant benefit as we prepare to scale the migration of customers, including those from Suncorp Bank, across to ANZ Plus as well as supporting our focus on non-financial risk”.
Outgoing ANZ chief Shayne Elliot, who has served as Group CEO over the past nine years, was hailed for leading the bank through a “critical transformation that will be the cornerstone of ANZ’s long-term success”.
“He was the first CEO to identify the need for simplification, later becoming a mantra for the industry. He rebalanced our portfolio to materially improve the capital efficiency and focus of the Group while also making our business less complex and safer to manage.
“Under Shayne’s leadership, ANZ now has one of the world’s leading institutional businesses, a new retail bank platform built on industry-leading technology and a culture focussed on helping customers and communities thrive.
“He will be long remembered as a CEO that embedded a purpose-led strategy, setting ANZ on the path to long-term, sustained success.
Matos will formally commence as ANZ Group CEO on 3 July 2025.
◼️ ANZ has also this week announced the appointment of a new Group General Manager, Internal Audit, with Sam Garland to assume the role.
Garland joins from PwC Australia after a 20-year career in the professional services sector. As PwC’s banking and capital markets leader, Garland was responsible for leading the consultancy’s client relationships, advising on risk management, regulation and complex change.
He succeeds Paul Orton, who retires after 14 years at ANZ. Orton was recognised as a “trusted leader and demonstrated unquestionable integrity throughout his many leadership roles at ANZ, and in particular while leading Group Internal Audit since 2021”.
ANZ chief executive Shayne Elliott hailed Garland’s “seniority and deep expertise in financial services [which] ensures he is well placed to provide the board and our executive committee with independent and objective assurance of our operations.”
Garland will report to the chair of ANZ’s Audit Committee, Christine O’Reilly, with an internal management reporting line to the CEO.
◼️ TAL has appointed Alexis ‘Lexie’ Denby as a General Manager of its newly created Consumer and Growth team.
Denby, in the inaugural role, will oversee TAL’s direct and advised customer growth initiatives as well as product and service.
She moves from her current role as TAL’s General Manager of Sales and Marketing after nearly a decade serving the life insurer in senior digital, marketing, sales, and strategy roles.
Denby joined TAL in 2014 after more than three years with GE Capital, playing a pivotal role in elevating the creditor firm’s digital customer experience, TAL said.
Commenting on Denby’s appointment, TAL chief executive of individual life Gavin Teichner said the formation of the new team reflects the organisation’s focus on the “evolving protection need” of Australians.
“Lexie’s leadership and expertise have been critical in positioning TAL as a market leader in the insurance industry,” Teichner said.
He added: “Lexie and her team are truly focused on what Australians want and need from us as an insurer, and are working to develop even clearer, more targeted products and services for our direct and retail customers.”
◼️ Resimac Group has announced Pete Lirantzis as its next Chief Executive, effective from the first half of 2025.
Lirantzis replaces Susan Hansen who will step down as Interim CEO after the expected completion of the migration of the Westpac Auto Back Book (set for the first half of 2025 calendar year).
Lirantzis currently serves as Resimac’s Chief Strategy, Products and Operating, joining the firm in February this year.
Resimac’s Chair, Wayne Spanner, welcomed Lirantzis’ strong focus on brokers, quality customer care, and solution-orientated approach.
“Resimac is in a strong position and Pete is well placed to lead the business into the future as we continue to diversify and grow across our mortgage and asset finance business. With considerable experience in digital transformation and modernisation across the finance sector, Pete has already made his mark on the business and will continue to do so as we build sustainable growth,” Spanner said.
Interim CEO Hansen said her replacement has, since joining the lender, “demonstrated exceptional skills in articulating and executing a strategy that aligns with the board’s ambition.
Hansen will continue on the Board of Resimac.
◼️ QBE has appointed Jamie Kelly as Group Chief Compliance Officer.
Kelly will report directly to Group Chief Risk Officer Fiona Larnach, and will be responsible for overseeing the group’s global compliance function.
He replaces Ed Rainsford who earlier this year transferred to a new role as Chief Risk Officer for QBE’s Australia Pacific business.
Kelly was most recently QBE’s Interim Executive/Group Head of Risk Culture and Conduct, supporting Rainsford as CCO.
“The enterprise knowledge gained through his recent support of risk culture and conduct initiatives, combined with deep compliance expertise, sets Jamie up well for this important role,” QBE said in a LinkedIn post.
◼️ Australian Retirement Trust (ART) has appointed Darryl Burke as Chief Risk Officer (CRO).
Burke, as newly appointed CRO, will lead the fund’s Risk & Compliance business area, noted for its critical role in driving ART’s governance capability, assessing risk and guiding compliant decision-making.
ART recognised Burke’s more than 25 years’ experience in risk and governance roles globally, including senior positions at Credit Suisse, Standard Chartered, PGIM, and Westpac, where he was .
Over the last seven months, he has served as Chief Risk Officer at Colonial First State.
Burke began his career with Ernst & Young where he qualified as an auditor and a chartered accountant.
ART Chief Executive David Anderson noted Burke’s “comprehensive understanding of risk frameworks and his blend of commercial and risk acumen”.
“Culturally, Darryl is aligned strongly with our purpose and values at ART and he will be a valuable addition to our Executive Committee and fund as a whole.”
He added: “In an evolving superannuation landscape, we’re fortunate to have secured an exceptional leader in Darryl who will bring an invaluable depth and breadth of experience in first- and second-line risk management leadership roles in complex, highly regulated financial services businesses internationally.”
Burke commences on 17 March 2025.
◼️ ANZ has appointed outgoing Federal Senator Hon Simon Birmingham as Head of Asia Pacific, Engagement and Chair, South Australia.
Birmingham, in his new role, will report to Group Executive, Institutional, Mark Whelan, and work closely with ANZ CEO, Shayne Elliott.
As Head of Asia Pacific Engagement, Birmingham will be responsible for expanding and strengthening ANZ’s trade relationships and capital flows, working with customers, governments and investors across the Asia Pacific.
In his role as Chairman, South Australia, Birmingham will also drive ANZ’s growth agenda across the bank’s Institutional, Commercial and Retail businesses in South Australia.
Commenting on the appointment, Elliott said: “Simon Birmingham has had a distinguished career as a Senator for South Australia and Australian Cabinet Minister, including as Minister for Trade, Tourism and Investment, and Minister for Finance. His significant experience and knowledge of trade, investment and the economies and governments of the Asia Pacific, will help ANZ and our customers to create opportunities across the region.”
Elliot added that the appointment of the outgoing senator for SA would allow the bank “to deepen our support for our South Australian customers and the state’s economy”.
Birmingham will join ANZ in February 2025 following his resignation from the Senate. He will be based in Adelaide, South Australia.
◼️ The Commonwealth Bank has appointed Luke Yeaman as its next Chief Economist and Head of Global Economic and Markets Research.
Yeaman will succeed Stephen Halmarick, who in August announced plans to depart the bank.
Yeaman is currently a Deputy Secretary in the Department of Treasury and Head of their Macroeconomic Group, a position he’s held since April 2020.
As part of that role he is responsible for macroeconomic conditions and forecasting, including inflation, fiscal and macro policy advice, population analysis and climate and energy policy.
Yeaman has also served as Australia’s G20 Finance Deputy and has represented Australia in a variety of global economic forums.
“Luke brings a deep understanding of the Australian economy and where we sit in the global macroeconomic environment. Luke’s experience representing Australia on the global stage, will be valuable for our clients both at home and abroad, said CBA Group Executive for Institutional Banking and Markets, Andrew Hinchliff.
“As our Chief Economist, Luke will be able to leverage cutting-edge AI technology and one of the most comprehensive financial data sets in the country, that provides our Economics’ team with unparalleled insights into Australia’s macroeconomic environment.”
Halmarick was recognised for pioneering the use of CBA’s own data to extract key insights into the Australian economy on a regular and consistent basis. He developed the CommBank’s Household Spending Insights (HSI) Index and oversaw the growth of the bank’s Sustainable Economics research to support customers with insights about the transition to a lower-carbon future.
◼️ NAB has also announced the appointed of a new Chief Economist, with Sally Auld to take on the role.
Auld, currently Chief Investment Officer at JBWere, was recognised for her “extensive experience and credentials in economic and financial market research”.
“[This makes] her the ideal candidate to continue [outgoing Chief Economist] Alan [Oster’s] legacy and lead our Economics function into the future. Her appointment reinforces our commitment to internal succession planning,” said NAB Group Chief Financial Officer Nathan Goonan.
Auld replaces the long-serving Alan Oster who retires after a more than three-decade tenure in the role.
Oster joined NAB in 1992, recognised by the bank for building “a respected Economics function, renowned for its high-quality research and insights”.
“Alan Oster’s decision to retire marks the end of an era for NAB. He has been hugely influential through his thoughtful commentary and analysis and has been a trusted advisor to many,” Goonan said.
Oster concludes his tenure with NAB at the end of March 2025, with Auld commencing the transition process on 17 February 2025.
Board
◼️ Buy now pay later firm Zip Co has announced the forthcoming departure of pioneering Co-Founder and current Director and US Chair Larry Diamond.
Zip Chair Diane Smith-Gander expressed the firm’s “appreciation of [Diamond’s] extraordinary achievement, having co-founded Zip with Peter Gray in Australia in 2013”.
“We acknowledge that there is a changing of the guard across the tech sector as companies have matured and their founders are now in a position to realise their next stage of contribution to their domestic and international communities.”
Zip Group Chief Executive and Managing Director Cynthia Scott recognised Diamond as an “an inspirational leader”, hailing his “enormous contribution in our sector”.
“He has prepared the team well for this natural progression and is stepping down at a time when we have the leadership and broader team executing strongly on a strategy that is delivering for the company and its shareholders.”
Zip confirmed that Diamond will remain as an adviser to the firm on select strategic initiatives.
Diamond will step down as a Zip Co director and as US Chair immediately, confirming plans to establish a charitable family office and foundation.
Diamond was reported to have sold 30 million of his 55 million shares in Zip Co the day after his departure, netting him around $100 million.
◼️ FinTech Australia has announced the appointment of Tiimely Chief Risk and Compliance Officer Jodi Ross and Tractor Ventures Co-founder and CEO Jodie Imam to its board.
Ross brings more than 20 years’ experience in lending, competition, regulatory frameworks, compliance, law and risk management, including senior roles spanning the Australian Competition and Consumer Commission (ACCC) and the Commonwealth Treasury.
FinTech Australia recognised Ross as a “leader driving consumer empowerment through regulatory and technology innovation”.
“Jodi’s expertise in AI-driven lending technologies along with the Consumer Data Right regime boosts the Association’s regulatory and lending expertise,” the peak body said.
Imam similarly boasts two decades in industry, with FinTech Australia recognising her experience in entrepreneurship, venture capital and alternative revenue-based financing models for tech-enabled companies.
She has also held roles at SBE Australia, Wade Institute of Entrepreneurship, Startmate and Innovation Bay.
FinTech Australia Chair Sarah Gorman said: “Australia’s fintech ecosystem has never been stronger and that’s evident in the strong field of candidates, all women, that nominated in 2024.
“I want to commend all the excellent candidates that put themselves forward for the role, who regardless of the result we will aim to involve more deeply in the organisation’s operations in the future.”