The boss of ANZ’s Australian consumer bank is leaving after 17 years with the lender for a career break in his native Sweden.
Fred Ohlsson, who was ANZ’s NZ boss before becoming Australia group executive in 2016, will step down on December 29 but assist with a handover to interim replacement Mark Hand throughout January.
‘Fred approached me saying that he and his wife feel that their children are at an ideal age to spend some time living in Sweden,’ ANZ chief executive Shayne Elliott said.
‘While I’m disappointed Fred will be leaving, I respect his decision to put his family first and take an extended break.’
ANZ said Mr Hand, who has been with the bank since 1988 and currently heads business and private banking, would lead Mr Ohlsson’s unit ‘while we look at the best structure for the Australia division’.
ANZ shares fell two cents, or 0.1 per cent, to $25.18 in the first 15 minutes of trade on Thursday.