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Competing in tomorrow’s world…

Competing in tomorrow’s world…. Presentation to AIBF Industry Forum 7 March 2001 John McFarlane Chief Executive Officer Australia and New Zealand Banking Group Limited. Forces shaping corporations of the future. Capital markets. Liberalisation.

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Competing in tomorrow’s world…

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  1. Competing in tomorrow’s world… Presentation to AIBF Industry Forum7 March 2001 John McFarlane Chief Executive Officer Australia and New Zealand Banking Group Limited

  2. Forces shaping corporations of the future Capital markets Liberalisation • Increasing scale, mobility and integration of the world’s capital market • Unprecedented transparency • Increasing deregulation across national borders and within nations’ industries Digital technology • Increasing ability to leverage knowledge across physical borders, decreasing relevance of physical assets

  3. Beyond consolidation - Specialisation Fragmentation .. . to consolidation . . . and specialisation Leading to globalisation leading to globalisation USA EUROPE AUSTRALIA ASIA

  4. Specialists have been more successful Schwab MBNA Lloyds TSB Global Mega Players Specialists Amex Santander Macquarie Market/ Book Ratio Citigroup 4 CBA WBC Bank of America NAB ANZ StGeorge Geographic incumbents Geographic integrators 1 20 50 Book Equity

  5. Tobins ‘Q’: the market valuing intangibles Ratio of market value to asset replacement value of S&P 500 2.0 Increase in the relative value of intangible assets such as: • Talented people • Ways of working • Knowledge • Brand • Reputation 1.5 1.0 Mean 0.5 0 1945 1995 Source: McKinsey & Company

  6. A new leadership model Strong best practice performance • Best global capital markets practices • Best practice management • Cost and continuous improvement • Performance management and accountability Intangible wealth creation • Leadership and people development • Open communication with teamwork/empowerment • Accountable mindset • Vision and values driven • Co-creative • Flexible, responsive …AND... Intellectually intelligent Emotionally intelligent

  7. Winning the war for talent Great company Values and culture 58 Well managed 50 Company has exciting 38challenges Strong performance 29 Industry leader 21 Many talented people 20 Good at development 17 Inspiring mission 16 Fun with colleagues 11 Job security 8 Great jobs Freedom and autonomy 56 Job has exciting 51challenges Career advancement 38and growth Fit with boss I admire 29 Great company Great jobs Compensation and lifestyle Compensation and lifestyle Differentiated compensation 29 High total compensation 23 Geographical location 19 Respect for lifestyle 14 Acceptable pace/stress 1

  8. Grow Positioned in growth markets • Actively managed portfolio • Annual investment in growth ideas • Higher than peer revenue growth ANZ’s aspiration Perform A high performing company, exceeding expectations • Revenue growth • Cost leadership • Risk mitigation • EPS • ROE AND Breakout More dynamic than competitors • High P/E rating • Performance culture • Lean and agile • The ebank with a human face • A breakout mentality

  9. Performance and growth and breakout PE Ratio Improve EPS and higher PE sacrifice EPS to build P/E Share price curves sacrifice P/E to achieve EPS EPS %

  10. The evolution of perform and grow and breakout • Build the foundation • Deliver on the fundamentals • Earned the support of the market • Identify growth opportunities • Invest to grow • Create a breakout mentality • Create a strong performance culture • Out execute in a different game

  11. The approach we’ve taken Formal systems Business environment Ideal ANZ performance culture Current ANZ performance culture Desires of ANZ’s people Mindsets Gap ANZ strategy Behaviours Performance culture change program Today

  12. Put our customers first with an experience that delights Focus on creating value for our shareholders Lead and inspire our people Breakout, be bold and have the courage to be different Earn the trust of our people and the community ANZ – the eBank with a human face

  13. The ANZ way - Perform, grow and breakout • Customer first, shareholder value, community • Perform, specialise, grow, stretch, • Energy, passion, bold, opportunity, breakout • Lean, agile, etransform, accountable, well-managed, no surprises • Lead, inspire, open, trust, freedom, recognition, team, fun

  14. The material in this presentation is general background information about the Bank’s activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. For further information visit www.anz.com or contact Philip Gentry Head of Investor Relations ph: (613) 9273 4185 fax: (613) 9273 4091 email: gentryp@anz.com

  15. Copy of presentation available on www.anz.com

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