Positioning Australian Retail and Commercial for growth

Australia and New Zealand Banking Group Limited
9/833 Collins Street Docklands Victoria 3008 Australia
ABN 11 005 357 522
News Release
For release: 1 March 2022

Positioning Australian Retail and Commercial businesses
for growth

ANZ today announced it will combine its Digital Division, including ANZx, and its Australian
retail business with Maile Carnegie appointed Group Executive Australian Retail, reporting to
ANZ Chief Executive Officer Shayne Elliott.

As part of these changes, ANZ will also separate out its commercial businesses in Australia
into a ne w division to better prepare it for future growth opportunities.

Mr Elliott said: “We recognised retail banking was changing fast and that we needed to use
the world’s best digital technology to deliver a customer proposition centred around the
financial wellbeing of our customers while also improving the speed and resilience of our
operations.

“At the time, we established our new Digital Division outside of our Australian retail business
to ensure we weren’t being limited by existing structures and technology. Our intention was
to always bring this work together when it made sense and given our first customer
proposition, ANZ Plus, is about to go live, that time is now.

“ANZ Plus, which was built under the ANZx program, is a critical foundation in our digital
transformation as we l ook to improve the service s we provide our retail customers in
Australia. It is a digital-led retail banking proposition centered on the financial wellbeing of
our customers.

“Maile Carnegie is the right leader to take this business forward. She has brought a different
perspective since joining our Executive Committee in 2016 and made a significant
contribution in reshaping our digital offerings, particularly with ANZx.

”Maile’s recent banking experience, as well as her extensive career running consumer and
digital businesses, means she has an exceptional skillset that will ultimately evolve our retail
bank,” he said.

Mr Elliott also said the integration of Digital and Australian Retail, along with the
Institutional and New Zealand businesses performing well, allows increased focus on ANZ’s
Commercial Business in Australia.

“We’ve been banking Australian businesses since our inception more than 180 years ago
and it is core to who we are and what we do. Ultimately, improving the visibility, focus and
accountability of this division will benefit all our customers who are striving to either start,
run or grow their business,” Mr Elliott said.

Outgoing Group Executive Australia Retail & Commercial Mark Hand will assist Mr Elliott with
the establishment of the new Commercial Division before leaving ANZ later in the year.

“Mark Hand has given tremendous service to ANZ over many decades and can be incredibly
proud of the contribution he has made, particularly as a key member of the Executive
Committee since 2018. In discussing these changes with Mark, he felt it was the right time
to pursue opportunities outside of ANZ and we know he will be successful in whatever he
decides to do next. Mark will fortunately still be with us for the next few months as he works
with me to establish our new Commercial Division,” Mr Elliott said.

Commenting on the announcement Mark Hand said: “After a period of significant
transformation across ANZ and the banking sector, I see this as the natural time to move
onto my next challenge. I’m incredibly proud to have been part of ANZ’s history over the
past 30 years, and thankful for the opportunity to work with so many fantastic customers
and colleagues.”

For media enquiries contact:

Stephen Ries
Head of Corporate Communications
Tel: +61 409 655 551
For analyst enquires contact:

Jill Campbell
GGM Investor Relations
Tel: +61 3 8654 7749

Approved for distribution by ANZ’s Continuous Disclosure Committee