PwC Australia has recruited former Australia and New Zealand Banking Group CEO, as a Senior Advisor to support PwC’s growing Asia Practice and work with clients on executive leadership and development.
The man who drove ANZ's expansive Asian strategy Mike Smith, has been appointed to PricewaterhouseCoopers Asian Practice where he will advise and support the firm and its clients and how to capitalise on opportunities across the region. The former CEO has been one of the most enthusiastic and consistent advocates of Australian business engagement with Asia.
ANZ and Asia?
Smith was the CEO of Melbourne headquartered ANZ bank for over 8 years. Prior to that while based in Hong Kong Smith was deeply integrated into the Asian business landscape. He held significant senior roles as Global Head of Commercial Banking at HSBC, he was also Chairman of Hang Seng Bank and the President and Chief Executive Officer of HSBC Hong Kong.
Current ANZ CEO Shayne Elliott is diluting his banks engagement with Asia although officially the bank says it is still committed to the region. Smith claims his Asian strategy was always meant to be an ongoing long term project and not a short term tactic.
Invaluable Asian Experience
According to PwC research released last year, Australia could lose its place as a G20 economy by 2030 if it continues to ignore the rising economic success of its neighbours. An earlier PwC report showed only nine percent of Australian businesses are operating in Asia. Currently, Australia’s stock of direct investment in New Zealand stands at $60.5 billion compared to all ASEAN countries where we have invested a combined $37.6 billion.
«We are absolutely delighted to have an advisor of Mike’s calibre and expertise joining the team. Mike's global experience, particularly in Asia, will be invaluable in helping both us and our clients navigate and maximise the opportunities in our region,» said Luke Sayers CEO PwC Australia.
