Former Allens lawyer made ANZ CFO

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Michelle Jablko has been appointed chief financial officer at ANZ Bank, the only female to hold the position at a big four bank.

Jablko, now an investment banker began her career as a lawyer at Allens, specialising in merges and acquisitions and financial law.  She joins ANZ from Greenhill and Co where she worked as Australia managing director.  She previously held an executive position at UBS.

According to a report by the Sydney Morning Herald, while working at Greenhill and UBS, Jablko has acted as an advisor to high profile clients, including AMP, Solomon Lew and Slater & Gordon, on strategy, capital markets and M&A.

Chief executive Shayne Elliott said Jablko’s experience in investment banking makes her an ideal fit for the CFO position.

“This completes an outstanding team drawn from a diverse mix of experience and new talent from inside and outside ANZ which sets us up to deliver stronger outcomes for our customers, our people and our shareholders,” Elliot said in a statement.

The appointment follows a restructure of parts of the business by Elliott, who took up the top job at the bank late last year.  He appointed new leaders of the Australian and institutional businesses, alongside digital boss, former Google Australia chief Maile Carnegie.

Jablko joins ANZ as the business looks to offload its minority stakes in several Asian banks.  One analyst said Jablko’s experience would be extremely relevant to the changing direction the bank is looking to take.

“There's restructuring that needs to take place, and there are assets that need to be sold,” TS Lim of Bell Potter said.

“A CFO with and M&A background will be in a good position to manage these processes.”

ANZ has been without a long-term CFO for several months.