Shake-up at ANZ as retail boss Maile Carnegie exits
New chief executive Nuno Matos unveils a string of executive changes as he accelerates the banking major’s push to roll out the bank’s digital platform and get the Suncorp migration over the line.
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ANZ retail boss Maile Carnegie will exit the banking major as new chief executive Nuno Matos shuffles his executive ranks to accelerate the rollout of its digital platform and Suncorp Bank’s integration.
Ms Carnegie will step down on July 1 to focus on her non-executive roles, ANZ said on Thursday. Her departure comes after a public swipe from Mr Matos on the frustratingly slow rollout of the bank’s digital platform, ANZ Plus, and the migration of Suncorp Bank. Ms Carnegie was heavily involved in both initiatives.
“There is criticism that we haven’t delivered fast enough and that accountabilities are unclear,” he told staff on his first day just five weeks ago, as he pointed to the rollout and migration of Suncorp customers as among his immediate priorities.
Portuguese-born Mr Matos said Ms Carnegie had informed him of her intention to leave when he came on board, as he thanked her for “all her efforts”.
“Since joining ANZ in 2016, Maile has had a significant impact across payments, marketing, digitisation and most recently leading our retail business in Australia,” Mr Matos said.
“When I joined ANZ last month, Maile informed me of her desire to transition to a non-executive career outside the bank. I wish to extend my appreciation for her efforts in supporting my early days as CEO.”
Ms Carnegie joined ANZ in 2016, first as its group executive for digital banking, before moving up to head up the retail bank in 2022. Prior to joining ANZ, she was head of Google Australia.
Current Suncorp Bank CEO Bruce Rush will step in as acting retail group executive while her successor is found.
“Bruce is an experienced retail banker who has done an outstanding job as CEO of Suncorp Bank. His appointment will also assist with the migration of Suncorp Bank customers to ANZ, while we conduct a global search for the next leader of our retail business in Australia,” Mr Matos said.
Ms Carnegie had been considered a contender for the top job once Shayne Elliott moved on, but a scandal within the bank’s markets team last year led the board to look outside the lender in its search for his replacement.
Morningstar banking analyst Nathan Zaia said he wasn’t surprised by Ms Carnegie’s exit.
“I would think she probably had her sights set on the top job, and she’s been heading up the division that’s found itself under the most competitive pressures and hasn’t been on par with its peers in terms of its digital offering. They’re spending a lot on ANZ Plus, and it’s slowly getting there, but it has been slow and expensive,” he said.
Alongside Ms Carnegie’s exit, Mr Matos, in a memo to staff, announced more executive changes to shore up accountability of ANZ Plus and the Suncorp migration, which he has combined into one team to be headed up by Daniel King.
Mr King was already running the Suncorp Bank integration, and will report directly to Mr Matos.
“One of our key priorities is the integration of Suncorp Bank, particularly moving Suncorp Bank customers across to ANZ,” Mr Matos told staff.
“Fast tracking the integration of these customers makes the benefits of scale a reality, providing a better banking experience and reducing the risks associated with operating multiple technology systems.
“While we are focused on this, it is important that we also build out a consistent channel experience for all ANZ customers through the ANZ Plus digital front-end experience.”
Mo Khalil, managing director for ANZ Plus and digital, and Brendan Wreford, domain lead for ANZ, will now report to Mr King and Mr Rush, while Christine Linden, general manager for customer migration, will step into a new role focused on the bank’s regulatory initiatives.
ANZ shares up 0.3 per cent at $29.13.
Originally published as Shake-up at ANZ as retail boss Maile Carnegie exits
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