Australia and New Zealand Banking Group, also known as ANZ, has announced the appointment of Farhan Faruqui as Chief Financial Officer.
Farhan Faruqui is with ANZ since 2014, currently responsible for ANZ’s institutional business in 19 markets across Asia, Europe, Middle East, and America, as Group Executive International.
In his new role, Mr. Faruqui will be in charge of all aspects of Finance as well as Treasury, Mergers and Acquisitions, and Investor Relations. He was already a member of the Group Executive Committee and will remain so.
His extensive international banking career prior to joining ANZ includes senior roles at Citigroup such as Head of Citi’s Corporate and Investment Bank in Asia Pacific as well as its Global Loans and Capital Markets business in the region. At Citi, he was also country officer for several countries in Africa and Europe.
Shayne Elliott, Chief Executive Officer at ANZ, commented: “After a comprehensive global search, I’m pleased to be able to appoint one of our most experienced executives with a long history of delivering outstanding results in highly complex environments to this important leadership position.
“Farhan has played a crucial role in the re-shaping of ANZ’s institutional and international business as a critical part of our overall franchise. I’m confident his strong financial acumen, strategic insight and fresh thinking will be of great benefit to our shareholders and our customers”, Mr. Elliott added.
Farhan Faruqui, incoming Chief Financial Officer at ANZ, said: “I’m humbled to have been asked to lead ANZ’s world-class finance function. I want to thank the International team for their outstanding effort over the past few years in reshaping the International business. While I will miss them, I look forward to being part of their future success, albeit from a different vantage point, as we build on profitable growth in our target segments across the Bank.”
The new CFO will be based in Melbourne and will start in the role in October 2021 following regulatory approval. The current CFO, Shane Buggle, is retiring in October after 25 years with ANZ.
“Having served the bank with distinction in senior finance and audit roles for more than two decades, Shane has done an outstanding job since stepping in as CFO earlier this year”, said CEO Elliott.
“He is highly-regarded by our people, particularly his colleagues on the executive team as well as the Board, and I will personally miss his counsel, strategic insight and good humour. Shane will retire from the bank after transitioning his responsibilities to Farhan and I wish him and his family well for the future.”