ANZ Names Former New Zealand PM Key as Chairman of New Zealand Unit

By Robb M. Stewart Features Dow Jones Newswires

MELBOURNE, Australia--Australia & New Zealand Banking Group Ltd. (ANZ.AU) has tapped former New Zealand Prime Minister John Key to run the board of its New Zealand division, replacing John Judge when he retires in January.

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Mr. Key joins the board of ANZ New Zealand with immediate effect and will become chairman of the division at the start of next year, the Melbourne-based bank said Wednesday.

Mr. Judge has been on the board of ANZ New Zealand since December 2008 and chairman since June 2012.

"Sir John Key's strong international career in banking and his understanding of and contacts across the Asia-Pacific, where many Australian and New Zealand companies are increasingly trading, will add great value to the governance of ANZ," ANZ Chairman David Gonski said.

ANZ New Zealand claims the largest share of the country's market for home loans, deposits and credit cards.

Mr. Key was a member of New Zealand's parliament from 2002 and prime minister from 2008 to 2016, when he said he would be leaving politics. He was made a Knight Grand Companion of the New Zealand Order of Merit in 2017.

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Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

October 17, 2017 17:31 ET (21:31 GMT)