ANZ appoints new head of commercial

Australia and New Zealand Banking Group (ANZ) has announced that Clare Morgan is set to join the bank as its group executive, Australia commercial, leading ANZ’s commercial business in Australia (which was separated out into a standalone division earlier this year).

Ms Morgan replaces Mark Hand, ANZ’s former group executive, Australia retail and commercial, who left the bank in July after helping establish the commercial business as a new separate division.

In her new position, which commences in “early 2023” and will be based in Sydney, Ms Morgan will lead a team serving customers ranging from sole proprietors through to emerging corporates as well as private banking. 

She will become a member of ANZ’s executive committee and report to ANZ chief executive, Shayne Elliott. 

ANZ’s new group executive for commercial banking was previously the executive general manager of small-business banking at the Commonwealth Bank of Australia (CBA), where she had worked for the last 14 years. 

Commenting on the appointment, Mr Elliott said: “Clare is an outstanding leader and I’m confident her business banking experience will be an asset to both ANZ and our customers.  

“This is a significant appointment for ANZ as we continue to transform how we serve our commercial customers through the better use of digital platforms and data.

“While banking small businesses has always been core to what we do, it’s the right time to increase focus on this market, given it is a significant opportunity for ANZ and the progress we have made in other parts of our business.” 

ANZ announced in March of this year that it was shaking up its group structure by establishing a separate commercial arm and integrating the digital business, including ANZx, into the retail bank. 

The group said the standalone division would help give the bank a greater focus on its commercial business in Australia. 

Speaking at the time, Mr Elliott said: “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.”

[Related: ANZ restructures, exec to depart]