ANZ has hired David Carr to a newly created position as global head of sales based in Singapore — a sign that it continues to expand in Asia even as it cuts jobs in Australia. Carr, who joins the Australian bank in mid-April, will report to Steve Bellotti, who is managing director for global markets.
Carr was previously global head of financial markets sales at Standard Chartered Bank from 2002 to 2011. A role in which he was also based in Asia.
ANZ, which is the fourth largest bank in Australia and the largest bank in New Zealand, clearly harbours ambitions to grow in Asia. And in contrast to its bulge-bracket peers, which are slashing jobs, it has been boosting its headcount in the region. However, it is a different story in Australia, where it is struggling to grow. In February, ANZ announced plans to cut 1,000 jobs in Australia.
In Asia, ANZ has traditionally been strongest on the loans side, but it has recently been ramping up on the debt capital markets front as well. In November 2011 it hired Michael Luk from Bank of America Merrill Lynch as its head of global debt origination and capital markets for Asia, and prior to that, it added a number of local currency debt bankers from rivals, including Standard Chartered. The bank's detractors note, however, that it remains to be seen if ANZ's hiring strategy will bear fruit in a competitive, and some say, overbanked market.
Carr will be responsible for the sale of products across forex, rates, commodities and capital markets, which is a similar role to the one he most recently held at Standard Chartered. He will oversee product distribution across various client segments, including institutional, corporate, commercial, retail and wealth.
“David has over 25 years' experience leading high-performing sales teams in global financial markets. In his previous role, he managed a team of 680 sales professionals in 42 countries and was responsible for sales of all financial products including FX, rates, credit, commodities and equity derivatives,” said Bellotti in a release.
Prior to joining Standard Chartered, Carr was the global head of sales at Macquarie Bank, where he built a global client franchise with a specific focus on Asia. Carr started his career with Bankers Trust Australia, where he spent 12 years in relationship management and sales roles across financial institutions and corporates. In his last three years at Bankers Trust, he held the position of executive vice-president and head of sales.