Mr Smith’s first task at ANZ – invest in a skilled workforce

HSBC Hong KongANZ has just appointed its new CEO, and it’s an outsider, the Asian domiciled but not stereotypically Asian named Michael Smith, formerly of HSBC. This surprised some commentators who thought the bank might opt for an internal candidate such as ANZ National’s Graham Hodges.

Meanwhile hopefully Smith can shake that reputation many HSBC bosses have for working against rather than with union members at their bank. Australian FSU secretary, Paul Schroder, is calling for the new chief executive to stop sending Australian jobs offshore
to cheaper labour markets in Asia.

“ANZ has to step up to the plate on the critical issue of Australia’s skills shortage,” Mr Schroder said. “They can reject sending jobs offshore and start investing in providing high-skill, high-paid career opportunities.

“Banks are not investing in skills to build the new generation of Australian finance workers.”

According to the FSU the ANZ has also done more than any other Australian bank to reduce its Australian based skilled workforce, having sent 1100 information technology and more than 300 processing administration jobs to Bangalore.

(thanks to Gaetan Lee for the photo)

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