2015 ANZ Annual General Meeting
17 December 2015

ANZ 2015 AGM Address

Shayne Elliott
CFO and Incoming CEO_____________________________________________

Thank you David. And good morning everyone.

I feel enormously privileged to be given the opportunity tolead ANZ.

I have been a banker for more than 30 years. I grew up in
New Zealand where ANZ has a long and proud history.

And I’ve worked in Australia and around the world whereI’ve been an admirer of ANZ … and of what the bank hasachieved.

So joining ANZ in 2009, and now being appointed as your
new Chief Executive, is a great personal and professional
honour for me.

And it’s a great responsibility to be leading an iconic
Australian company that has been an integral part of thiscountry’s history and people’s lives for 180 years.
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17 December 2015

What we do know from our history, and from the history ofother long lasting companies, is that longevity andsuccess comes from a willingness to change and evolveas customers and the world changes.

Mike is leaving ANZ in a strong position, not only
strategically, but in terms of its readiness for change.

Over the past two months I’ve spent time with more than athousand of our staff in branches and offices - big andsmall, old and new - from Shanghai to Sydney, Auckland
to Adelaide.

I have listened to customers who run multinational
businesses … and to tradies whose head office is a
Toyota Hilux.

And I have met many of our shareholders.

What’s clear from those conversations is that we need tocontinue to adapt and change; just as we have for the past
180 years.

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17 December 2015

We need to change to address short term shifts in theenvironment such as market volatility, interest rates andregulation.
And also to adapt quickly to longer-term changes including
new sources of competition, technology, demographics,
climate change, and community expectations.

While so much is changing in today’s world, the need tofocus on our customers and helping to improve their lives
remains the same.

Today, our customers’ expectations are rising quickly,shaped by companies like Amazon, Uber, eBay andTwitter … even their local coffee shop, not other traditional
financial services companies.

I want ANZ to be known as a bank that is improving theexperience our customers have with us every day.

It’s our people that make the difference with ourcustomers. And when their efforts are combined withsimple and convenient technology solutions, this has thepotential to make ANZ special.

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17 December 2015

At the same time, as David said, I know there are times
the Australian community feels let down by banks.
It’s clear, like the other major banks, we have to work hardto help improve the industry's reputation.

This is not just because banking is a trust-based business.

It’s because our customers, our staff, shareholders andthe community rightly have high expectations of us.

This means we all have to focus even more on culture,ethics and fairness.

Finally, I have learnt an enormous amount from Mike
Smith over the past six years that we have worked
together.

I wouldn’t be here without him and the opportunities he
has given me - first, by enticing me to ANZ as CEO of theInstitutional business with his vision for ANZ, and then bychallenging me to take on the role of Chief FinancialOfficer.

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2015 ANZ Annual General Meeting
17 December 2015

I want to join David in paying tribute to Mike’s eight years
at ANZ and wishing him and his wife Maria all the very
best for the next stage of their life.
Finally I want you to know I very much appreciate thesupport of shareholders, and on behalf of my family and I,
would like to wish everyone a safe and happy Christmas
and a great new year.

Thank you.

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