-ANZ to change chairman of ANZ Royal Group.
Global Banking News-February 3, 2011--ANZ to change chairman of ANZ Royal Group(C)2011 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 03 February 2011
The chairman of Cambodia-based ANZ Royal Bank, Kith Meng, is to step down.
Kith Meng, whose Royal Group conglomerate holds a 45 per cent stake in the joint venture, is to quit after two successive, three-year terms as chairman.
The chief executive of the firm, Stephen Higgins, said, 'In early 2008, reflecting the early stage of ANZ Royal's development, the board took the view that the chairmanship should remain unchanged for a further three-year term to provide continuity.'
The bank is 55-percent owned by Australia and New Zealand Banking Group (ANZ) (NYSE: ANZ).
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