The major bank has hired a new general manager of proprietary lending, tapping the EGM of home lending from subsidiary Suncorp Bank for the role.
Australia and New Zealand Banking Group Limited (ANZ) has reshuffled some of its senior leadership, appointing Troy Fedder - the executive general manager (EGM) for home lending at group subsidiary Suncorp Bank - into the role of general manager, proprietary lending, effective immediately.
Fedder has had a long career in the mortgages space - particularly in the broker channel - having held a range of senior leadership positions at the major banks, including in third-party banking positions.
He was promoted to the position of EGM of home lending at Suncorp Bank in November 2023 (a position made permanent in June last year), having previously been the head of broker partnerships for three years.
Prior to working at Suncorp, Fedder worked in senior positions at the Commonwealth Bank of Australia (CBA), including as the EGM for strategic partnerships, third-party banking and the EGM for home buying, strategic portfolio management.
He also has experience in first-party distribution, having been the national manager for first-party at Westpac. Prior to this he held roles at Westpac as regional general manager leading south east NSW and national business manager (providing support across the retail banking division).
Taking to LinkedIn, Fedder commented: “I’m pleased to share that I’m starting a new role with ANZ as general manager, proprietary lending. I’m excited for this next chapter and I’m looking forward to building a great business with ANZ.
“I’ve had an amazing journey with Suncorp Bank and I’m leaving with so many wonderful memories from the past 5 years.
“Thank you to everyone who has been part of the journey, I’m grateful for the support and I’m excited for what’s ahead.”
Given his move to the ANZ position, the position of EGM of home lending at Suncorp Bank has now been filled by Dylan Atherton.
Atherton was previously the head of home lending services at Suncorp Bank, where he worked closely with Fedder for the past five years.
Over his time at Suncorp Bank, Atherton has also headed up the home lending products and services and been an executive manager for retail lending.
Paul Brick, who moved across to Suncorp Bank from ANZ last year, will continue to lead the third-party channel as head of broker partnerships.
The change in leadership comes amid a flurry of senior leadership changes at Suncorp Bank over the past year, including the appointment of Daniel Nicotra to the role of head of home lending product. He took over the position from Karen Walsh, who moved into the position of executive general manager of everyday banking.
Period of change at ANZ Group
The changes in position come amid a period of transformation at ANZ Group under new CEO Nuno Matos, and follows the acquisition of Suncorp Bank last year.
The banking group made headlines earlier this month when mainstream media reported that the group would be pulling Suncorp Bank products from market next year, with the brand itself targeted to be phased out by the end of 2026.
The Australian reported that “sources inside the bank” had been told that new Suncorp-branded home loans, savings products, and term deposits may be discontinued from offer by May next year at the latest.
The Adviser reached out to ANZ and Suncorp to verify these rumours and was told that the reports are incorrect.
The statement from ANZ said: “Reports in The Australian regarding the future of Suncorp Bank are incorrect.
“A review of our Suncorp Bank integration plans remains underway, and ANZ has made no decisions regarding the future state of Suncorp Bank.”
The rumours of Suncorp Bank’s mothballing came just days after ANZ announced it would be reducing its headcount by around 3,500 employees as part of major reforms to simplify the bank.
While details of the new plans have not yet been revealed (a strategy update is scheduled for 13 October), the bank said that the bank is making changes to “simplify the bank, strengthen its focus on its priorities, and deliver for its customers”.
More details of the future strategy of ANZ and its different channels are expected on 13 October.
[Related: ANZ refutes Suncorp Bank mothballing rumours]
