Banking and media 'must change': Smith
"If there are two industries in the world that need to change, it's the media and banking," Mike Smith, chief executive of ANZ, said last night.Smith was speaking at a launch function in Melbourne for the bank's new media hub, BlueNotes, which he described as "a rather unusual concept" for ANZ. His own support for the endeavour was, he said, informed in part by a trip last year to Silicon Valley and a visit to Linkedin."It was a bit of an epiphany; what was out there [in social media] and what was possible."Andrew Cornell, a former banking columnist for the Financial Review, is managing editor. Amanda Gome, a business media entrepreneur and former Fairfax executive, is ANZ's group head of strategic content and digital media.Smith said BlueNotes aimed to "open our customer base and all our stakeholders to opinion and help them get a sense of what's going on, and for ANZ to try and be more relevant to what's going on."Cornell said ANZ "see ourselves as co-creators. We know ours isn't the only view.""BlueNotes wants to be in the discussion. We want BlueNotes to be complementary and shared through social media," he said.Cornell said the bank estimated it reached a audience of 60,000 through the website and social media yesterday, its first day. This is about a quarter of the readership of the Financial Review.