views

ANZ poaches Citi’s Asia regional boss

Mark Robinson, the chief executive of Citigroup’s South Asia division, is leaving the bank after serving just over a year in the role. He has been recruited by ANZ as chief executive of South and Southeast Asia which has been amplifying its activity in the region.

ANZ said the appointment of Robinson, with his previous experience in Asian markets, would help to spearhead its focus on the East.

Over the past year, ANZ has markedly increased its business and trade activity in the Asia-Pacific region, revamping the company logo to include a lotus flower reflecting this shift. The outlook for the Asian region, where ANZ is currently rolling out its super-regional strategy and where it aims to earn 20 per cent of its profits by 2012, was said to be optimistic.

ANZ Bank chief executive Mike Smith, speaking in Perth recently, warned of lingering volatility in the markets, and anaemic growth in advanced economies.

He predicted Asia’s strength would cause a “fundamental shift in the world’s economic and political tectonic plates”.

Earlier this month, ANZ was given in-principle approval for a foreign banking licence in India, one of its high priority areas.