ABA chief Anna Bligh to step down, credits banks with restoring trust

Former Queensland premier Anna Bligh will step down from running Australia’s peak banking body after nearly eight years, saying the industry has restored trust in the wake of its scandals.

Australian Banking Association chief executive Anna Bligh. Picture: Josh O’Reilly

Former Queensland premier Anna Bligh will step down from running Australia’s peak banking body, with the veteran political operator announcing she will retire in mid-2025 once a replacement is found.

Ms Bligh said she leaves as chief executive of the Australian Banking Association after nearly eight years in the top job, noting the industry had restored trust in the wake of scandal.

The former premier has steered the peak body since 2017, taking on the job during a testing time for the industry.

Soon after taking on the top job the banking sector faced a gruelling royal commission, which exposed major shortcomings in the industry.

Ms Bligh said the banking industry “had lost the trust of the Australian community” when she took on the top job.

But the 64-year-old said the sector has “since worked tirelessly to earn back that trust”.

“Every bank stepped up to support Australians during the Covid pandemic, deferring mortgage and loan repayments for every customer who needed it,” she said.

“Across the sector, Australia’s banks are playing a leadership role in building the digital economy, tackling scams and financial fraud, supporting customers experiencing vulnerability and financial stress, including those experiencing domestic violence and elder abuse.”

Ms Bligh said Australia’s major banks “pull some of the biggest levers in the economy and have enormous impact on people’s lives”.

“I’ve relished the chance to play a part in improving the system and making a difference,” she said.

A replacement for Ms Bligh will be announced by the ABA in the coming months, with industry figures noting the high-profile role would require someone with business and political expertise.

The ABA, which represents some of Australia’s largest lenders, including Commonwealth Bank, NAB, Westpac, ANZ and Bendigo Bank, acts as the go-between for the banking sector and the country’s political leaders.

It also co-ordinates industry campaigns, including recent efforts to preserve access to cash amid strife at Australia’s key cash distributor Armaguard.

NAB CEO Andrew Irvine, who chairs the ABA, paid credit to Ms Bligh, noting her “significant impact”.

“The role of an industry association CEO is always a challenging one and we are certainly fortunate that Anna has invested so much time and energy for Australian financial services,” he said.

“It is clear that Anna has the respect of her stakeholders, formed strong working relationships with other peak bodies domestically and internationally.”

CBA CEO Matt Comyn noted Ms Bligh’s leadership of the banking sector during a “period of significant scrutiny and change”.

“She has been a consistent driver of better outcomes for Australian consumers,” he said.

“We have benefited from her sound judgment, strong values and excellent communication, and she will be missed,” he said.