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ANZ appoints new chief risk officer

Australia and New Zealand Banking Group has confirmed the appointment of David Stephen as its new chief risk officer, reporting to CEO Mike Smith.

Mr Stephen has been acting in the role since June 2007 following the appointment of Peter Hodgson as group managing director – institutional.

Formerly, Mr Stephen held senior risk management roles at Lehman Brothers and at Credit Suisse in London, New York and Hong Kong.

Mr Smith said: I have had the opportunity to work alongside David in recent weeks. He knows ANZ well and has the right mix of international experience and world-class credit skills to make a significant contribution as chief risk officer.