A squall of double-speak and dubious folklore blasted from the Docklands headquarters of ANZ Banking Group on Tuesday as overripe chief executive Shayne Elliott officially secured himself a two-year reprieve and Maile Carnegie, unimaginably, was named his heir apparent.
Carnegie has been jointly responsible for the financial performance of ANZ’s retail bank since 2019 while working from a separate building to escape “traditional red tape that can stifle product development”. How is that supposed to work? It didn’t.
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Joe Aston is the founder of Rampart and the best-selling author of The Chairman’s Lounge: The inside story of how Qantas sold us out. From 2012 to 2023, Joe helmed The Australian Financial Review’s Rear Window column. Email Joe at hello@rampart.news
