ANZ has announced the appointment of Farhan Faruqui as Chief Financial Officer, effective from October. Mr. Faruqui will report directly to CEO Shayne Elliott and will be based in Melbourne. He succeeds Shane Buggle, who is retiring after a 25-year career with ANZ.
Mr. Faruqui joined ANZ in 2014 and currently serves as Group Executive International, overseeing the bank's institutional business across 19 markets in Asia, Europe, the Middle East, and America. Before joining ANZ, he held senior positions at Citigroup, including Head of Corporate and Investment Bank in Asia Pacific.
In his new role, Mr. Faruqui will oversee Finance, Treasury, Mergers and Acquisitions, and Investor Relations while remaining a member of the Group Executive Committee.
CEO Shayne Elliott expressed confidence in Mr. Faruqui's abilities: “After a comprehensive global search, I’m pleased to be able to appoint one of our most experienced executives with a long history of delivering outstanding results in highly-complex environments to this important leadership position."
Mr. Elliott added that Mr. Faruqui has been instrumental in reshaping ANZ’s institutional and international business: "I’m confident his strong financial acumen, strategic insight and fresh thinking will be of great benefit to our shareholders and our customers."
Upon his appointment, Mr. Faruqui stated: “I’m humbled to have been asked to lead ANZ’s world-class finance function... While I will miss them [the International team], I look forward to being part of their future success.”
Shane Buggle will retire after transitioning responsibilities to Mr. Faruqui. Reflecting on Mr. Buggle's contributions, Mr. Elliott said: “Having served the bank with distinction in senior finance and audit roles for more than two decades... Shane has done an outstanding job since stepping in as CFO earlier this year.”