Latest news with #MaileCarnegie
The Australian
11 hours ago
- Business
- The Australian
Ex-HSBC banker's Nuno Matos revolution has just begun at ANZ
New ANZ CEO Nuno Matos plans to move quickly to overhaul the bank. Picture: Arsineh Houspian Carnegie's exit is unsurprising, and will be the first of several expected to leave ANZ in coming months with Matos, a former top HSBC banker, determined to lift the perennial number four bank. Other areas in Portuguese banker Matos' sights that can expect change will be risk management, institutional banking and technology. Those who have worked with Matos in previous roles say the global bank executive has a reputation for moving quick and will leave no doubt he is now calling the shots. Maile Carnegie will leave the bank at the end of this month. Management upheaval is always expected to follow with the appointment of an outside boss like Matos. But ANZ's reputational hits of the past year and relative underperformance gives Matos even more of a mandate for change. A former Google Australia boss, Carnegie has been with ANZ since 2016, initially she was recruited in the newly created role of digital banking before former boss Shayne Elliott made a captain's call. He promoted her to run retail banking: a critical business in 2022 that generates earnings of more than $1.4bn annually. Carnegie was certainly an unorthodox hire by Elliott, but it was a recognition that ANZ badly needed to boost its digital credentials, with it lagging behind the likes of Commonwealth Bank. Over her time Carnegie had full oversight of the long-promised ANZ Plus tech overhaul, a program years late – indeed it won't be ready until nearly 2028, and was recently revealed by Elliott to have cost a stunning $2.5bn – although that included building second business-focused platform Transactive. Carnegie's initial ANZ business became the genesis of the ambitious new ANZ Plus banking platform. This is an entire new tech system that promises to lower costs, but customers will know about it through a banking app that promises to do everything online. Still, her promotion three years ago was a big call by Elliott. Carnegie's background before Google was in marketing and product, with senior roles at US consumer goods major Procter & Gamble. This, and regional sales at Google, was an entirely different mindset from running a big four bank retailing franchise that at its core manages mortgages and deposits, and it had badly stumbled in the wake of the Covid-19 refinancing boom. ANZ Plus became years late and over budget as the scope kept changing. Picture: Max Mason-Hubers/The Australian At the start of 2022, Carnegie promised ANZ Plus would be available to customers 'soon' as well as the arrival of the mythical 10-minute mortgage. This timeline for the app and mortgages kept being pushed out as the project became ever more complex. To be fair, there has been significant change in the scope of the project, which ultimately became the template for a bank-wide tech transformation. ANZ Plus also became linked up with the $4.9bn Suncorp bank acquisition, changing the parameters yet again. It's also being rolled out in New Zealand. For two years, new ANZ customers were signed on to the platform, where it now has more than one million customers. But existing ANZ customers, representing five million accounts, are still not on ANZ Plus or have access to its features. This won't happen for another three years. Mortgage brokers, who represent the bank's biggest distribution source, are only now being given limited access. Still, it reinforces one of the recurring issues with ANZ under the Elliott era, and this had been around execution. The critical phase in ANZ Plus comes later this year with plans to begin moving an additional one million Suncorp customers onto the platform. Given the high risk that disruption could send those newly-acquired customers packing, Matos is not taking any chances. He's putting in Suncorp Bank chief executive Bruce Rush as ANZ's acting head of retail, overseeing both Suncorp and ANZ. Maile Carnegie with former ANZ CEO Shayne Elliott at the ANZ Plus launch in 2022. Picture: Arsineh Houspian There's a dotted line between Rush and Matos. Both previously worked at Spanish bank Santander. Rush was with Santander UK, the former Abbey National, acquired by Santander in 2004. Matos was part of the Santander integration team. On joining ANZ last month, Matos called out three urgent priorities, and here the retail business was already in his sights. The first was building a clear corporate culture based around 'decisiveness, drive, execution, delivery and performance'. The second was lifting ANZ's Australian business, which was 'not operating at its full potential', he said. Thirdly, Matos was determined to improve the excellence of how ANZ manages risks – including non-financial risks, and this was in recognition of the potentially damaging investigation by regulator ASIC into questionable trading inside the bank's bond desks. Matos will launch a global search for Carnegie's replacement. This means his first appointment will be his most significant. In a statement, Matos said Carnegie informed him last month that she wanted to transition to a non-executive career outside ANZ. 'On behalf of everyone at ANZ, I wish (Carnegie) well with the next phase of her career and thank her for all her efforts,' the new CEO said. The Matos revolution is just beginning. Read related topics: Anz Bank
Finextra
12 hours ago
- Business
- Finextra
Maile Carnegie to retire from ANZ
ANZ today announced Maile Carnegie has decided to retire as Group Executive Australia Retail on 1 July 2025 to focus on non-executive roles after a distinguished 33-year executive career. 0 Mrs Carnegie first joined ANZ in 2016 as Group Executive Digital Banking, where she was responsible for improving the digital experience for the bank's customers, along with Group responsibility for Marketing. Since 2022, Mrs Carnegie has led ANZ's Retail business in Australia, which services more than six million customers. ANZ Chief Executive Officer Nuno Matos said: 'Since joining ANZ in 2016, Maile has had a significant impact across payments, marketing, digitisation and most recently leading our retail business in Australia. 'When I joined ANZ last month Maile informed me of her desire to transition to a non-executive career outside the bank. I wish to extend my appreciation for her efforts in supporting my early days as CEO. On behalf of everyone at ANZ, I wish her well with the next phase of her career and thank her for all her efforts.' Current Suncorp Bank CEO Bruce Rush has been appointed Acting Group Executive Australia Retail & Suncorp Bank while a global search is undertaken. Mrs Carnegie will assist with a comprehensive transition through July. Having joined Suncorp Bank in 2010 from Santander UK, Mr Rush is an experienced retail banker who has held senior roles across strategy, deposits, and home lending. He has been CEO of Suncorp Bank since August 2024. Mr Matos added: 'Bruce is an experienced retail banker who has done an outstanding job as CEO of Suncorp Bank. His appointment will also assist with the migration of Suncorp Bank customers to ANZ, while we conduct a global search for the next leader of our retail business in Australia.'
AU Financial Review
20 hours ago
- Business
- AU Financial Review
Maile Carnegie's departure shows Nuno Matos is shaking up ANZ
Maile Carnegie knew her number was up before ANZ's new chief executive, Nuno Matos, officially replaced Shayne Elliott on May 12. Having been passed over for the top job, it didn't take Carnegie, head of ANZ's Australian retail business, too long to figure out that Matos was likely to bring in his own people.
Sky News AU
20-05-2025
- Business
- Sky News AU
Big Four banks announce sweeping interest rate cuts to help millions of homeowners amid challenging economic climate
Australia's Big Four banks have committed to reducing interest rates in an attempt to deliver much-needed financial relief to the nation grappling with the brutal impacts of post-pandemic inflation. The major announcement comes after the Reserve Bank of Australia on Tuesday afternoon lowered the cash rate from 4.1 per cent to 3.85 per cent. Westpac, NAB, ANZ and Commonwealth Bank revealed shortly after they would pass the rate cut for the millions of Aussie homeowners that bank with the Big Four. NAB was the first to step in and pass on the RBA'S interest rate cuts to its customers by decreasing its standard variable home loan interest rate by 0.25 per cent p.a. Customers who bank with NAB can expect the changes to kick in from May 30, although 95 per cent of its customers opted to keep their repayments at the same level when rates last decreased. Shortly after NAB's announcement, ANZ committed to lowering interest rates for variable rate home loan customers by 0.25 per cent, also passing on the Reserve Bank's cut in full. ANZ Group Executive Australia Retail Maile Carnegie said: 'The RBA's second rate cut will be another welcome reprieve for our home loan customers, who have been facing high cost of living pressures for some time." 'While Australians have shown great resilience, facing economic challenges directly and adapting to rising costs and uncertainty, some may still be struggling. We remain committed to supporting our customers through tailored solutions and urge them to reach out sooner rather than later to discuss options for any additional support required." Commonwealth Bank dropped home loan variable interest rates by 0.25 per cent p.a. to deliver "much-needed additional relief for many Australians with a mortgage". ANZ and CBA is also expected to pass the rate cuts from May 30. Lastly, Westpac joined the major banks to decrease home loan variable interest rates by 0.25 per cent p.a. for new and existing customers. However, the changes will kick in from June 3. Additionally, Westpac Life total variable rate with bonus interest will decrease by 0.25 per cent p.a. to 4.0 per cent p.a., effective from May 30. Treasurer Jim Chalmers welcomed the RBA's cash cuts and said it is a "welcome relief" for millions of Australians. "This is the second interest rate cut in the last three months," he said. "This is very welcome relief for millions of Australians. We are really pleased to see more help is on the way. And that's what this decision today is all about. "To give you a sense of the benefits, the average benefits for Australians with a mortgage, this decision today for a $500,000 mortgage means $79 a month, or $947 a year. "For someone with a $750,000 mortgage: $118 a month or $1,420 a year."
Finextra
07-05-2025
- Business
- Finextra
ANZ scraps passwords for digital banking log-in
ANZ is scrapping password access to its digital banking arm ANZ Plus, replacing key-based log-ins with two-factor authentication. 0 Rather than typing in a password, customers will instead be able to access their ANZ Plus Web Banking through two authentication methods: either by using a passkey, which could be their fingerprint, face or mobile device PIN, or by entering their mobile number and approving a log-in request sent to their secure ANZ Plus app. ANZ Group Executive Australia Retail, Maile Carnegie says: 'The introduction of Password-less Web Banking will revolutionise the way customers access their bank account. Not only will it be easier than ever to log into your account, we're helping our customers bank with confidence knowing their accounts are secure. 'By introducing this change, we're helping prevent customer log in details from the risk of data breaches or phishing attacks - providing an extra layer of protection and one less thing for customers to worry about when it comes to banking security.'
