New CEO Announced for ANZ Royal Bank

ANZ Royal Bank yesterday announced the appointment of Damian Bell, the current CEO at ANZ Laos, to the same position at ANZ Royal in Cambodia. He will replace Stephen Higgins, who has served as chief executive since 2008, from next month, according to a statement from ANZ Royal. The appointment is subject to regulatory approval. Higgins said yesterday the succession was routine, adding that leadership positions at the bank’s regional branches often lasted for three to four years. “It’s part of the regular cycle of CEOs,” he said. ANZ Royal is 55% owned by Australia and New Zealand Banking Group, and another 45% is held by Cambodia’s Royal Group.

[The Phnom Penh Post]