ANZ still ponders candidates for Asia chief
The bank has delayed the naming of a replacement for Mr Thursby as it continues to weigh up candidates for the critical role.
Those so far considered for Mr Thursby's former job as head of international and institutional banking are said to include Citibank's head of global family office group Catherine Weir who, it is believed, is no longer a contender.
Ms Weir, a 20-year Citibank veteran and a one-time boss of the bank's Singapore business, previously headed the US bank's south-east Asian markets and banking. Now based in Switzerland, she leads a group that specialises in financial services for rich families.
Mr Thursby's position has been vacant since the end of April, when he left to take up the top job at the National Bank of Abu Dhabi. Since then the responsibility has been shared between chief executive of Asia Pacific Gilles Plante and managing director of global markets Steve Bellotti.
An ANZ spokesman declined to comment on any contenders for the job.
"We have looked at many potential candidates in recent months as part of the search process internally, in Australia and globally," the ANZ spokesman said.
"We expect to make an announcement about Mr Thursby's permanent replacement later this year. In the meantime, Gilles Plante and Steve Bellotti are continuing to lead the institutional and international banking division."
Ms Weir did not respond to requests for comment.
At the time of Mr Thursby's exit in April, ANZ chief executive Mike Smith said he had hoped to announce the appointment in a few weeks.
As ANZ seeks to expand aggressively into Asia, it is tipped by analysts to appoint an external candidate to replace Mr Thursby. Given ANZ's heavy emphasis on Asia, analysts say, whoever gets the job will also be seen as a potential future chief executive of the entire group. Mr Smith, who previously ran the Asian arm of global bank HSBC, has signalled he intends to stay on as chief executive for two to three years.
While the bank has considered internal candidates to replace Mr Thursby, an outsider from a large Western bank with a heavy Asian presence, such as Standard Chartered Bank, Citigroup, or HSBC, is seen as more likely. Mr Smith has also fuelled expectations of an external appointment by saying ANZ might "poach" a banker and describing himself and Mr Thursby, a former Standard Chartered banker, as "Asian insiders".
Three weeks ago Mr Smith again said he hoped to announce the appointment in "a few weeks' time".
Among top-level changes in the nation's big banks in recent weeks was National Australia Bank's appointment of veteran investment banker Craig Drummond as its next chief of finance and strategy. The move puts Mr Drummond in the mix as a potential successor to NAB boss Cameron Clyne and is seen by some as signalling NAB's intention to expand its wealth management and institutional banking.
Frequently Asked Questions about this Article…
ANZ is conducting a global search for a permanent replacement for Alex Thursby, who left at the end of April to take the top job at the National Bank of Abu Dhabi. The bank has considered multiple internal and external candidates and expects to announce a permanent appointment later this year.
The article says ANZ has gone back to the drawing board and is weighing up many candidates both internally and globally. Although CEO Mike Smith initially hoped to name a successor within weeks, the bank has delayed the appointment to ensure it finds the right person for the critical Asia role.
Catherine Weir is a 20-year Citibank veteran who once ran Citibank’s Singapore business and now leads its global family office group from Switzerland. She was reportedly considered for the role but is believed to no longer be a contender, and she did not respond to requests for comment.
Since Alex Thursby’s departure, responsibility for the institutional and international banking division has been shared between Gilles Plante, ANZ’s chief executive of Asia Pacific, and Steve Bellotti, managing director of global markets.
Analysts quoted in the article tip ANZ toward appointing an external candidate from a large Western bank with a strong Asian presence—names mentioned include Standard Chartered, Citigroup (Citibank), and HSBC. CEO Mike Smith has also suggested ANZ might 'poach' a banker.
The article notes ANZ’s heavy emphasis on expanding in Asia, and analysts say whoever fills the Asia chief role will likely be viewed as a potential future chief executive of the entire group. Mike Smith’s comment that he intends to stay on as CEO for two to three years also frames the role as part of succession planning.
Alex Thursby left ANZ at the end of April to take up the top job at the National Bank of Abu Dhabi, according to the article.
Yes. The article highlights National Australia Bank’s appointment of veteran investment banker Craig Drummond as its next chief of finance and strategy. That move puts Drummond in the mix as a potential successor to NAB boss Cameron Clyne and is seen as signalling NAB’s intention to expand its wealth management and institutional banking.
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