On the second morning of ANZ’s three-day board meeting in Auckland this week, chairman Paul O’Sullivan, chief executive Shayne Elliott and the rest of the board were officially welcomed by ANZ’s kiwi staff in a special Maori ceremony.
Under the bank’s ethical decision framework – developed under former chairman David Gonski and refreshed under O’Sullivan – ANZ has thought carefully about the community issues where it wants to have a voice.“If there are issues that really matter to the community in terms of how it feels about its welfare, or how it feels about its priorities, you as a corporation need to understand and reflect that.
It was during this period that ANZ sold off a number of assets – the wealth division being the most prominent – cut headcount, reduced complexity and pruned customer numbers; ANZ’s institutional customer book has fallen from 27,000 to 7000, to allow the bank to focus on fewer, more profitable customers.“We’re transforming the bank to make sure that it’s able to lead the next phase. And I’m not ashamed of saying to the staff we should be aspiring to lead in what we do.
“It’s a bit like a home renovation where you’ve knocked down the back of the house and your mates all think it’s just taking forever. But actually, fundamentally, you put in place things that are going to be in place for the next 20 or 30 years. I think that’s where we’re at,” O’Sullivan says.
why aree you guys trying to hide this. ……