ANZ CEO quits in surprise move

05 May 2009

Brian Hartzer, in a surprise move has quit as chief executive of ANZ's Australian operations and is reportedly taking up an overseas banking job. He resigned yesterday, declining to give more details of his new assignment. 

During his tenure with ANZ, Hartzer was instrumental in resurrecting the local retail arm and winning analysts' respect for his management of the bank's earnings heartland.

Hartzer's sudden exit comes about 18 months after Mike Smith beat him to the chief executive position at the ANZ group.

According to Smith, under Brian's leadership ANZ transformed itself into a retail banking force in Australia with leading levels of customer satisfaction and staff engagement, and a reinvigorated brand.

Deputy chief executive Graham Hodges has assumed the responsibilities associated with Hartzer's role in an acting capacity till a replacement is found. According to analysts, with no obvious internal successor, the bank will probably go in for an external replacement.

Hodges had served a three-year stint in New Zealand before taking up his present assignment as deputy chief executive in March following Bob Edgars' retirement.