The ABA has elected the head of a major bank as its new chairman.
The council of the ABA has elected Westpac CEO Gail Kelly as its new Chairman, succeeding ANZ boss Mike Smith.
Kelly says she is “very pleased” with the appointment, particularly in the lead up to the Financial Systems Inquiry.
“The next two years will be an important time for the industry. I believe there is a real opportunity to ensure Australia has the best possible banking system capable of supporting our nation’s future prosperity," she said.
Kelly also praised Smith’s performance during his time as chairman.
“Mike has guided the industry through a period when waves of new regulations were being debated and implemented, following an incredibly turbulent period for banks globally. We thank him for his guidance over the past two years,” she said.
Mike Hirst, managing director of Bendigo and Adelaide Bank, also replaces Stephen Roberts, chief country officer of Citi Australia, as deputy chairman of the ABA.
Hirst thanked Roberts for his contribution.
“I am pleased to take up the position of deputy chair, particularly at this critical time. As we move further away from the recent global financial crisis and focus more on the future, and the financial system Australia is going to need, I am keen to ensure a wide range of perspectives are brought to those discussions and I look forward to supporting Gail Kelly in her role as chairman."
