Why the ANZ (ASX:ANZ) share price is pushing higher today

This banking giant’s shares are rising again today…
The post Why the ANZ (ASX:ANZ) share price is pushing higher today appeared first on The Motley Fool Australia. –

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is pushing higher on Wednesday.

In morning trade, the banking giant’s shares are up 1% to $29.19.

Why is the ANZ share price pushing higher today?

Today’s gain by the ANZ share price is likely to have been driven by the release of a strong full year result by rival Commonwealth Bank of Australia (ASX: CBA) this morning.

That result appears to have given investor sentiment in the banking sector a major boost, helping to drive all of the big four banks higher today.

But also potentially giving the ANZ share price a lift has been the announcement of a key appointment in the C-suite.

What did ANZ announce?

This morning ANZ announced the appointment of Farhan Faruqui as its new Chief Financial Officer.

According to the release, Mr Faruqui joined ANZ in 2014 and is currently its Group Executive International. In this position he is responsible for ANZ’s institutional business in 19 markets across Asia, Europe, Middle East and America.

Prior to joining ANZ, Mr Faruqui had an extensive international banking career at Citigroup, where he held senior roles. This includes Head of Citi’s Corporate and Investment Bank in Asia Pacific, as well as its Global Loans and Capital Markets business in the region. He was also country officer for several countries in Africa and Europe.

In his new role as ANZ’s Chief Financial Officer, Mr Faruqui will have responsibility for all aspects of Finance as well as Treasury, Mergers and Acquisitions and Investor Relations. He will remain a member of the Group Executive Committee.

ANZ’s CEO, Shayne Elliott, commented: “After a comprehensive global search, I’m pleased to be able to appoint one of our most experienced executives with a long history of delivering outstanding results in highly-complex environments to this important leadership position.”

“Farhan has played a crucial role in the re-shaping of ANZ’s institutional and international business as a critical part of our overall franchise. I’m confident his strong financial acumen, strategic insight and fresh thinking will be of great benefit to our shareholders and our customers,” he added.

The ANZ share price is now up over 26% in 2021.

The post Why the ANZ (ASX:ANZ) share price is pushing higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in ANZ right now?

Before you consider ANZ, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and ANZ wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

When was the best ever day on the ANZ (ASX:ANZ) share price chart?
2 ASX 200 dividend shares named as buys

ASX 200 Weekly Wrap: Blockbuster Afterpay deal turbocharges ASX to new record highs

If you invested $1000 in ANZ (ASX:ANZ) shares a decade ago, this is how much it would be worth now
2 ASX 200 bank shares rated as buys

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!