Shayne Elliott’s rented Corolla wasn’t enough for ANZ in the end

The career banker took the top job in 2016, unwinding a failed regional expansion and wowing shareholders. Those shareholders are a bit less wowed now.

Shayne Elliott has been the chief executive of ANZ since 2016. He will retire from the bank next year. Bethany Rae

Jonathan ShapiroSenior reporter

Updated Dec 10, 2024 – 8.57am, first published at Dec 9, 2024 – 6.02pm

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Shortly after Shayne Elliott was appointed as ANZ’s next chief executive in October 2015, he rented a white Corolla and went on a long road tip, visiting the bank’s branches around the country.

That set the tone for his time in charge of Australia’s fourth-largest lender. Elliott was comfortable getting out and talking to ordinary Australians about their hopes and dreams. In Elliott, the bank had a personable and empathetic leader to guide them through a period of turmoil.

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Jonathan ShapiroSenior reporterJonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.