All change as ANZ restructures

Sawer is seeking to find employment elsewhere in wholesale financial services and has yet to be replaced. The bank is to merge the foreign exchange and commodities and capital markets units into one division. The bank said the changes were being implemented due to the challenges the bank is facing in delivering growth in a challenging market.

The new combined business unit is to be headed by a single managing director of markets who has yet to be announced. The bank is conducting an internat