The ANZ will be on the look out for a CEO after the incumbent, Mike Smith, confirmed yesterday that he will be gone by the end of next year.
Mr Smith is the longest serving CEO of an Australian bank. He has been with the ANZ since October 2007, the eve of the GFC.
There have been indications in the past few months that he will be leaving, but his comments on Bloomberg yesterday were the most definite yet.
"(W)hen I took on the job, when I left Hong Kong all those years ago, I thought my tenure would be about five to seven years and I’ve done eight years, so I’ve publicly said that by sometime soon I’ll be hanging up my boots,” he was reported as saying.
And when pressed for more detail, he added: “Well you know…within the year, yeah.”
Previously, the ANZ has indicated in 2014 that mr Smith would be around for “around another two years,” subject to the board’s agreement.
When Mr Smith goes, the Commonwealth Bank (CBA) CEO, Ian Narev, who started in his role in 2011, will become the senior CEO of the big four banks.
ANZ shares fell 2.3% yesterday to $27.14 in the continuing sell off.
