This rate of progress points to an equal amount of male and female CEOs in the top 200 in about 86 years time or 2105.
Westpac replaces men with men
This week’s management reshuffle by Westpac Banking Corp triggered by chief executive Brian Hartzer’s decision to reset the wealth management business was a chance to bring through some talented women. Instead it resulted in three key executive promotions and all were men.
When George Frazis decided to stop running the consumer bank to “pursue other leadership opportunities” he was immediately replaced with David Lindberg who was previously running the business bank.
Lindberg is clearly on track to be a prime candidate to replace Brian Hartzer when he leaves in several years. The other men promoted as part of the reshuffle were Alastair Welsh, who was made acting head of business, and Gary Thursby, who was head of straetgy and is now chief operating officer.
It is possible the internal and external search to replace Lindberg as head of the business bank will result in a women being appointed but don’t bet your house on it. When Alexandra Holcombe retired as chief risk officer in October last year she was replaced by David Stephen, who was from RBS.
Hartzer this week told Chanticleer he was not going anywhere. He said he loved what he was doing and had a lot more to accomplish.
“I would say though that I absolutely see as part of my responsibility as being about leadership development and making sure that we have a strong leadership capability at all levels in the company,” he said.
“Obviously I mean what we’re talking about is that I’m having a personal objective to make sure that we are attracting and developing great leaders in the company at all levels and that does include my executive team.
CBA opts for blokes
The Hayne induced management upheaval started in June last year when the new chief executive of the Commonwealth Bank of Australia, Matt Comyn made a series of senior appointments. All the new line management appointments were men.
Nigel Williams was appointed chief risk officer, David Cohen became deputy CEO, Pascal Boillat was made chief information officer, Andrew Hinchcliffe became head of institutional banking and markets and Angus Sullivan was appointed head of retail banking.
Comyn replaced human resources head Melanie Lang with Sian Lewis. When did you last see a human resources boss become a CEO?
Now, three out of the 11 people in the CBA executive team are women but this does not include Jason Yetton, who is CEO of the bank’s wealth management and broking business, which is not being sold. Apart from Lewis, the other women on the CBA team are Anna Lenehan, who is general counsel, and Vittoria Short who runs ASB Bank in New Zealand.
Three more in contention at NAB
National Australia Bank has a golden opportunity to promote a woman as part of the upheaval caused by the sudden resignation of Andrew Thorburn but the noises coming out of the bank suggest the men have the upper hand when it comes to internal candidates.
The three men talked about most often inside NAB as potential internal replacements are Mike Baird, who is head of consumer banking, Anthony Healey who is head of business and private banking and Patrick Wright, who is chief technology and operations officer.
It is heartening that Angela Mentis, who runs Bank of New Zealand, and Rachel Slade, who is chief customer experience officer are mentioned as contenders for the CEO role. The CEO search is being run by a female director, Ann Sherry.
Two promoted at ANZ
Kevin Corbally, replaced Nigel Williams as chief risk officer, Mark Hand was made head of retail and commercial banking and Maile Carnegie was made group executive digital and Australia transformation.
The other woman in a line management role at ANZ is Alexis George, who is deputy CEO and group executive wealth. Carnegie and the chief financial officer, Michelle Jablko are considered possible contenders for chief executive Shayne Elliott’s job when he retires.