June 20, 2018 / 7:43 AM / 6 months ago

Australia's ANZ names new group treasurer amid cartel charges

FILE PHOTO: A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group (ANZ) in central Sydney, Australia October 25, 2017. REUTERS/Steven Saphore/File Photo

(Reuters) - Australia and New Zealand Banking Group Ltd (ANZ.AX) said on Wednesday it appointed Adrian Went as its group treasurer, as it looks to move past charges of alleged cartel arrangements related to trading ANZ stock around a 2015 share issue.

ANZ’s current treasurer, Rick Moscati, was among those charged earlier this month by Australian authorities over the share issue.

Went, who will take charge in July, is currently responsible for credit and capital management for the bank’s Financial Institutions Group, ANZ said in a statement.

“Adrian’s proven treasury experience combined with his deep knowledge of our business and capital management makes him the ideal executive to lead our treasury function during the continued transformation of ANZ,” said Chief Financial Officer Michelle Jablko.

ANZ and Moscati were charged along with certain former local heads of Citigroup Inc (C.N) and Deutsche Bank AG (DBKGn.DE), as well as their respective firms.

The charges, which can carry hefty fines and 10-year prison terms, could lead to changes in the way institutional capital raisings are handled, and do further reputational damage to Australian lenders.

Reporting by Aaron Saldanha in Bengaluru, Editing by Sherry Jacob-Phillips

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