5 December 2018
Today the Australian Banking Association Council held its Annual General Meeting, re-electing Shayne Elliott as Chair and David Carter as Deputy Chair for another 12 months.
Mr Elliott, CEO of ANZ and Chair of the ABA since December 2017, said there was much work to be done as the industry continues to reform and re-earn trust.
“I’m pleased to have been re-elected Chair of the ABA for what will be an important year for the industry as we continue to earn trust from customers and the community,” Mr Elliott said.
“While there has been significant reform in recent years, the Royal Commission has clearly highlighted we have made mistakes. The industry has accepted responsibility for our failures and we are accountable for fixing them quickly,” he said.
Mr Carter, CEO of Suncorp Bank and Deputy Chair of the ABA since June this year, said he was pleased to be re-elected Deputy Chair and focussed on embedding change in the industry.
“Rebuilding trust with the Australian community will take a significant and sustained effort from the industry,” Mr Carter said.
“Every member of the ABA is strongly committed to embedding change to ensure issues identified by the Royal Commission are not repeated in the future,” he said.
Contact: Rory Grant 0475 741 007
“This is about engaging with the entire banking ecosystem in order to ensure the accessibility of the sector’s services are best serving our diverse community now, and into the future.”
“What is underpinning this bank failure is a number of things, but not least of all, it’s a very niche bank with high exposure to one part of the economy. And that’s the part of the economy that’s been quite volatile and troubled”
The Treasurer has indicated that the federal government is closely monitoring the situation.