Jobs at risk as 'significant' restructure hits ANZ tech teams

Hundreds of roles are under threat at ANZ Banking Group as the company initiates a major restructure of its technology division.

The Finance Sector Union (FSU) is holding urgent consultation meetings due to proposed changes that it said “will result in hundreds of roles being made redundant”.

Departments expected to be impacted include Institutional, Group Services, and Cloud, Data and Infrastructure Services (CDIS), according to a union statement.

As part of the restructure process, ANZ employees will be required to participate in a “preference and selection” process to determine future placements within the organisation.

"In order to focus on our priorities and position ourselves for continued success, we are making some changes to our organisational structure in our technology division," an ANZ spokesperson said.

"These changes will simplify our structure and make us more efficient as we focus on the bank’s priorities."

The consultation process is set to close by August 21. 

These developments come after the appointment of Nuno Matos as the bank’s new CEO, who took over from Shayne Elliott in May.

In the weeks following Matos’ appointment, two senior technology-related executives announced their departures.

Maile Carnegie, group executive for Australia Retail, who played a key role in ANZ’s digital strategy, stepped down after a nine-year tenure.

Shortly after, long-serving group technology executive Gerard Florian announced his retirement.

At the end of last month, the Australian Financial Review reported that the bank had implemented a hiring freeze until September and appointed consultancy firm McKinsey to conduct a high-level review into its leadership structure.