Australia and New Zealand Banking Group Ltd (ASX: ANZ) has appointed a new customer fairness advisor.
ANZ shares climbed 0.41% on Tuesday, finishing at $26.69 at market close. The S&P/ASX 200 Financials Index (ASX: XFJ) also finished ahead today, up 0.99%. For perspective, the S&P/ASX 200 Index (ASX: XJO) fell 0.73%.
Let’s take a look at what ANZ announced on Tuesday.
New appointment
ANZ has appointed Evelyn Halls as its customer fairness advisor, the bank announced. Halls will report to the company’s CEO Shayne Elliott. Commenting on the appointment, Elliott said:
This is a crucial role for ANZ that we first established in 2016 and I’m confident Evelyn will build on the legacy of Colin Neave who served as ANZ’s inaugural Customer Fairness Advisor.
As ANZ’s services become even more digital, we’ll be particularly looking to Evelyn to help us use data responsibly and ensure our decision making is fair.
Halls recently served as lead ombudsman at the Australian Financial Complaints Authority. She has more than 25 years of experience in the legal and financial services sector.
In early March, ANZ also restructured its executive team to prepare for future growth. The retail and digital divisions of the bank have been combined, while a new commercial division has been created.
The ANZ share price also climbed yesterday amid concerns of rising inflation, as my Foolish colleague Sebastian reported.
The US Federal Reserve is due to meet this week when it is widely predicted interest rates will rise by 25 basis points, CNBC reported. The Australian Reserve Bank of Australia (RBA) often takes its lead from the US Federal Reserve, as my Foolish colleague Bernd has noted.
The other three of the Big 4 banks also finished higher on Tuesday. National Australia Bank Ltd (ASX: NAB) climbed 0.86%, Westpac Banking Corp (ASX: WBC) jumped 1.12%, while Commonwealth Bank of Australia (ASX: CBA) gained 1.75%. Macquarie Group Ltd (ASX: MQG) bucked the trend, finishing 0.44% lower.
ANZ on the ASX snapshot
The ANZ share price has shed 6.02% in the past 12 months but in the past week alone, it has jumped 6.76%.
In comparison, the benchmark financials index has leapt 7.26% in the past 12 months, gaining 7.47% in a week.
ANZ has a market capitalisation of about $74.8 billion based on its current share price.
The post Here’s how ANZ plans to keep ‘decision making fair’ appeared first on The Motley Fool Australia.
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More reading
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- The ANZ (ASX:ANZ) share price has toppled 16% in 15 years. Have the dividends been worth the pain?
- Brokers name 3 ASX shares to buy today
- Is the Westpac (ASX:WBC) share price the cheapest bank to buy right now?
- ANZ has the largest ASX big four bank dividend yield right now. What?
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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