ANZ deputy chief executive to get "Australia’s most difficult job"

Just days after the AMP denial of its CEO's imminent departure, the troubled bank has announced that it will be replacing Francesco DeFerrari with Alexis George, ANZ’s deputy chief executive.

DeFerrari will leave with a substantial payout – including $200,000 reimbursement of his costs from relocating from Singapore and $300,000 for extra work he did while chief executive of AMP Capital.

George was regarded as one of the best people managers at ANZ, according to the Australian Financial Review.

ANZ CEO Shayne Elliot said  “Alexis has made an invaluable contribution over the last seven years and I know she will have a similar impact on her new company.”

“We will all miss her experience, wise counsel and down-to-earth leadership style. However, as one of the most experienced wealth executives in the country, she is ideally placed to lead AMP through its next phase and we all wish her well on the challenge.”