Kevin Corbally will step down from his position as Group Chief Risk Officer at ANZ and take on the role of Managing Director, Capital Management Institutional. Corbally has served as ANZ’s Chief Risk Officer since 2018, making him one of the longest serving in that role within Australia.
During his tenure, Corbally led ANZ’s risk function through major industry changes. He oversaw a notable improvement in ANZ’s credit profile, moving the bank from having the highest credit losses among domestic peers before his appointment to achieving the lowest. He also played a key part in guiding ANZ through the 2018 Banking Royal Commission and during the COVID-19 pandemic.
In his new role, Corbally will be responsible for further developing capital management practices within ANZ’s Institutional business. He will report to Mark Whelan, Group Executive for Institutional, and join the leadership team for that division.
ANZ Chief Executive Officer Nuno Matos said: “Kevin has played an important role in leading ANZ’s risk management function through a period of significant technological and regulatory change for the industry.
“After almost eight years in the role, I recognise Kevin’s desire to apply his extensive experience to a new role and challenge. I’m confident this is the right move for Kevin and ANZ as we look to further strengthen our capital management capabilities.”
Corbally will remain as Group Chief Risk Officer until a successor is named. An announcement regarding his replacement will be made later.