Shayne Elliott is about to restructure the ANZ Bank, streamlining the workforce, and reducing dependency on mortgage brokers and branches.
The Australian Financial Review reports that Elliott and ANZ chairman David Gonski have sketched out the boldest restructuring plan seen in Australian banking history.
Elliott says ANZ has no choice but to start with a blank sheet of paper and reinvent itself to prepare for a digital world in which banks face the spectre of disintermediation, the newspaper says.
Financial Review contributor Chris Joye, a portfolio manager of Coolabah Capital Investments and Smarter Money Investments, had an interview with Elliott over lunch in Melbourne.
Elliott explains that he wants to…
Read the full article at: https://www.businessinsider.com.au/shayne-elliott-is-about-to-embark-on-a-deep-restructure-of-the-anz-bank-2017-7