On the move



Michael Smith has resigned after four years as Asia-Pacific chief executive of HSBC in Hong Kong and will join ANZ as the Australian bank's new chief executive on October 1. He is replaced by Sandy Flockhart, previously group managing director for HSBC in Latin America and the Caribbean. Smith succeeds John McFarlane, who will leave ANZ on September 30 after 10 years as chief executive.

Meanwhile, Peter Hodgson, formerly chief risk officer at ANZ, has become group managing director of

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