Briefs: senior banker joins ANZ board, Zip sells business loan book, and more

New ANZ director Richard Gibb

The outgoing chief executive of Credit Suisse Australia, Richard Gibb, will join the ANZ board as a non-executive director. Gibb has been CEO of Credit Suisse Australia since 2019 and will step down on January 31. His banking career also included senior roles at Deutsche Bank, where he was co-head of corporate finance for Asia Pacific; and Merrill Lynch, where he was head of financial institutions and financial sponsors groups for Asia Pacific. He will join the ANZ board next month.
Zip continues to trim its business operations in search of profitability. In its latest move it has entered into an agreement to sell its Australian business loan portfolio to Prospa Group. Prospa announced that it will pay A$15.6 million for $18.4 million of performing loans to 370 small businesses. It said the transaction would be settled this week.
Former Queensland Treasurer Andrew Fraser has joined the Bank of Queensland board as a non-executive director. Fraser was Treasurer in the Bligh Labor government from 2007 to 2012 and also served as Deputy Premier. He is currently chair of Australian Retirement Trust, a director BESIX Watpac Ltd and Brisbane Broncos, and president of Motorsport Australia.
Qantas Money has notified users of Qantas Travel Money that it is changing its card issuer from Heritage Bank to EML Payments. Next month EML will issue a new product disclosure statement, target market determination and financial services guide. Card features are unchanged.