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Daily Dispatches: ANZ loses Asian spearhead

South East Asia

Alex Thursby, chief executive of institutional and international banking at Australia and New Zealand Banking Group, is leaving the bank for an unannounced firm in the Middle East at the end of this month.

Thursby, who has been with ANZ for six years, has overseen rapid growth in ANZ’s Asian operations in a plan to make it a “super regional bank”. Combined earnings from China, Hong Kong and Taiwan became the third-biggest source of profits, after Australia and New Zealand, in ANZ’s latest results.

It remains to be seen whether ANZ will recruit internally or look to poach from a competitor to fill the vacancy. ANZ CEO Asia Pacific Gilles Plante and managing director global markets and loans Steve Bellotti will fill the role in the interim. “ANZ is pretty well connected in Asia now and can easily attract candidates,” Chris Hall, an Adelaide-based senior investment officer at fund manager Argo Investments, told Bloomberg.

Big bucks (Straits Times)
Wee Ee Cheong, chief executive of Singapore firm United Overseas Bank, got a 30 percent pay hike last year, taking home between S$8.75m and S$9m.

StanChart hires (Finance Asia)
Peter Burnett, a long-time UBS banker, is moving to Standard Chartered to take up a newly created role as regional head of corporate finance for Northeast Asia.

New service (Straits Times)
Industrial and Commercial Bank of China is now providing yuan clearing service in Singapore.

Three more years (WSJ)
Reserve Bank of Australia Governor Glenn Stevens has been reappointed for a further three years

Trader at the top(Sydney Morning Herald)
A former high-frequency trader will soon take control of Chi-X, the only rival to Australia’s main stock exchange.

Hot office (Asia One)
Is this Singapore’s coolest workplace?

70s style (Dealbook)
Women in finance are coping with “the kinds of problems that women in most industries experienced in the early 1970s.

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