New CEO for ANZ Australia
ANZ Australia has a new chief executive, with Philip Chronican to lead the group, which now wholly includes ING’s wealth management operations.
Chronican will report to ANZ chief executive Mike Smith, and replaces Graham Hodges, who has been acting in the role since May. Hodges led the acquisition last week of ING Group’s 51 per cent shareholding in the ING/ANZ wealth management and life insurance joint venture. Hodges will continue as ANZ deputy chief executive.
Chronican will now be responsible for the bank’s wealth management businesses as well as retail and commercial banking units. A statement from ANZ pointed to Chronican’s 27-year career with Westpac, most recently as group executive, Westpac Institutional Bank, a role he left in July this year.
Chronican also acted as chief financial officer for Westpac from 2001 to 2005, as well as holding other senior roles in the retail arm of the bank. He will step into the role, based in Melbourne, in November.
AUTHOR
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
