New ANZ CEO, Michael Smith, yesterday showed he may have some distance to cover in terms of relating to his fellow workers at ANZ Bank, when he revealed to the Sydney Morning Herald that he owns about 10 hand built Aston Martins back in Hong Kong.
Meanwhile he also outlined his philosophy on performance pay to the Australian newspaper:
“‘I actually like to keep it simple,’ he said.
‘I like people to be very aware of what they’ve got to achieve and I expect them to achieve it.
‘If they do … they’ll get rewarded, if they don’t I’ll find people who can.’”
And told the Sydney Morning Herald to expect more outsourcing of bank processing jobs off shore:
“The thrust of the technological moves would allow customers to do all their own banking at the touch of button, in a move that indicates ANZ will aim to cut costs even further in back-office work.
This could lead to more banking jobs being outsourced to countries like India, where ANZ already has a large IT centre.
‘There are great savings [to be made] in processing,’ Mr Smith said.”
(thanks to Monique Hofland for the photo)
I would rather know more about his philanthropic activities than his Aston Martins.