Philip Chronican is stepping down as head of ANZ Bank Australia, and Mark Whelan is taking his place, effective 3 April.
Chronican was made chief executive in November 2009 after working for competitor Westpac Banking Corp. He has more than 30 years of banking experience and managed 10,000 Australian-based staff and over 6m customers. He is said to be pursuing a non-executive job after ANZ.
Meanwhile, Whelan has been with ANZ since 2004 and is managing director for global commercial banking. His new post will require him to report to group chief executive Mike Smith.
Smith said in a statement that Whelan "knows Australia and Asia well, and has a track record of delivering for shareholders and for customers".
David Hisco, chief executive of ANZ New Zealand, is set to take over Chronican’s responsibilities as global head of retail.
It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan