ANZ Group

ANZ Group Holdings has hired its first chief data and AI officer, as competition over artificial intelligence talent intensifies among big banks around the world.

The Australian bank said more than 60 per cent of the 3,500 job cuts it previously announced had taken place

The firm joins other banks in the city-state grappling with conflicting goals of trying to reduce office costs

Shareholders may call for another vote on whether to remove the entire board

The bank plans to cut broker reliance and write more direct home loans to lift lending revenue

Asic and the bank will ask the Federal Court to impose the penalties in relation to four separate proceedings spanning misconduct across the bank’s institutional and retail divisions

The bank is expected to incur a restructuring charge of about A$560 million before tax in the second half of this year

Precisely how many roles will be eliminated from the restructure remains unclear, and the bank has said that it will update investors on the process at a strategy day in October

The Melbourne-based bank is in the midst of a major restructure under new chief executive officer Nuno Matos