ANZ National CEO retires

Sir John Anderson is retiring as chief executive of ANZ National Bank.

He will be replaced by Graham Hodges, currently ANZ group managing director corporate.

Sir John's retirement will become effective on December 31.

Mr Hodges will come to New Zealand on November 1, in the role of chief executive designate, formally taking on the top job on January 1 next year.

ANZ chief executive John McFarlane said the bank had been fortunate to have Sir John lead the integration of The National Bank and ANZ.

"There is no doubt that Sir John's leadership has been fundamental to the stability of ANZ National's market share and exceptional staff satisfaction and engagement levels, in addition to his fostering a New Zealand identity within the Bank," Mr McFarlane said.

Sir John has worked in banking for more than 30 years. He founded merchant bank Soin 1972, which merged with the National Bank in 1987.

He was knighted in 1994.

Sir John said that when the National Bank was bought by ANZ in 2003 he indicated he would lead the new organisation through the integration process.

"This process is now finalised and credit must go to the very many people who ensured this challenging integration phase was successfully completed," he said.

- NZPA