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ANZ share price on watch as new NZ CEO announced

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is one to watch after a leadership announcement from the bank.

What did ANZ announce this morning?

The Board of ANZ Bank New Zealand Ltd has appointed Antonia Watson as the company’s new Chief Executive Officer.

Ms Watson will also be a Director of ANZ NZ and has received a non-objection from the Reserve Bank of New Zealand.

She has been the acting CEO of the bank since May and will sit on ANZ Banking Group’s Executive Committee.

The ANZ share price will be one to watch following this morning’s leadership confirmation for its New Zealand arm.

Ms. Watson is also the first New Zealand woman to lead the organisation, after joining the bank in 2009 as a financial controller. 

In 2017, Ms. Watson became the Managing Director of Retail and Business Banking for the group.

What else is happening for ANZ today?

The ANZ share price will be worth watching as the Aussie bank pays its dividend today.

ANZ is distributing 80 cents per share, franked to 70%. That means the bank is yielding a tidy 6.38% per annum.

While that’s lower than some of its peers, the bank has managed to avoid the scandals of its Big Four competitors thus far.

Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB) shares are both yielding more than ANZ right now.

However, Westpac is facing a huge fine for its AUSTRAC scandal and is accused of 23 million breaches of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. 

Meanwhile, NAB has been slapped with proceedings from ASIC overnight, with the regulator alleging more than 10,000 breaches of the law. NAB could theoretically face a maximum penalty of $10 billion, and the news comes on the eve of its AGM.

So while the ANZ share price will be one to watch, all eyes are likely to be on NAB in early trade.

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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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