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(Bloomberg) — Christina Tonkin, managing director of corporate finance at ANZ Group Holdings Ltd.’s institutional banking division, will leave the firm at the end of September after over 20 years of service, according to people familiar with the matter.
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ANZ is creating a new business unit to combine its corporate finance, research & analysis and capital management teams and has appointed former chief risk officer Kevin Corbally to run it, said the people who requested anonymity discussing internal matters. Corbally will start his new role on Aug. 10, one of the people said.
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Corporate finance is the bank’s specialized lending arm that covers project, export, asset, sustainable and acquisition finance, as well as loan underwriting and syndication, the people said. The resources, energy and infrastructure relationship group also falls under that umbrella, they added.
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A media representative for ANZ declined to comment on the bank as well as on behalf of Tonkin and Corbally.
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Since taking the helm in May last year, ANZ’s chief executive officer Nuno Matos has embarked on an overhaul of the lender. He has slashed costs, unveiled plans to cut more than 3,000 staff, upended its executive ranks and is attempting to reset a corporate culture that put the firm in the crosshairs of regulators.
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ANZ has also been working on improving risk management and compliance after the regulator slapped additional capital requirements on the bank due to a series of inadequacies.
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The institutional banking division accounted for 30% of ANZ’s A$11.2 billion ($7.8 billion) in revenue for the six months through March 31.
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Corbally stepped down in September as the bank’s chief risk officer and was appointed managing director of capital management.
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—With assistance from Richard Henderson.
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