Former PM to chair ANZ

John Judge will be retiring in January.

His position will be filled by former prime minister John Key.

He was appointed to the board today and will take over as chair in January.

ANZ Group chair David Gonski paid tribute to Judge.

“John Judge’s tenure has overseen significant change in the ANZ New Zealand business”, Gonski said.

“The National Bank and ANZ brands and technology systems were successfully merged in 2012 and the business has grown significantly. ANZ New Zealand now has the biggest market share for home loans, deposits, credit cards and KiwiSaver, and is leading the way with digital services.”

Gonski also welcomed Key.

“Sir John Key’s strong international career in banking and his understanding of and contacts across the Asia-Pacific – where many Australian and New Zealand companies are increasingly trading - will add great value to the governance of ANZ,” he said.

A graduate of the University of Canterbury, Key started his career in banking and finance in New Zealand before heading overseas where he became head of global foreign exchange with Merrill Lynch. He was also made a member of the Foreign Exchange Committee of the Federal Reserve Bank of New York.

ANZ New Zealand’s other independent directors are Tony Carter, Mark Verbiest and Joan Withers. The executive directors on the board are ANZ New Zealand chief executive David Hisco, ANZ Group chief risk officer and group executive Nigel Williams, and ANZ Group chief executive Shayne Elliott.