Mr Elliott will commence in the role following the ABA’s annual general meeting in December this year, taking over from NAB group chief executive Andrew Thorburn.
ABA chief executive Anna Bligh said Mr Elliott has had a “long and distinguished” career in the banking sector and was well suited to taking over from Mr Thorburn and continuing with his predecessor’s transformation process.
“The industry is currently undergoing the greatest program of reforms that banking has seen in decades. It’s vital that this continues and that we work to rebuild trust and better service the needs and expectations of the community,” she said.
Mr Elliott said he looked forward to leading “sustained change” and helping the ABA deliver better outcomes for bank consumers, and thanked Mr Thorburn for his leadership of the ABA.
“The banking industry is working hard to build trust with customers, the community and with federal and state politicians on all sides,” he said.
“While we have made significant improvements in recent times, rebuilding community trust is a long-term issue and change within the industry needs to be bolder and faster.”
The role of ABA chair rotates through the chief executives of the major banks, with ANZ next on the rotation due to the Commonwealth Bank's CEO changeover scheduled for next year.
