Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Exit of ANZ Royal CEO unexplained

Exit of ANZ Royal CEO unexplained

Exit of ANZ Royal CEO unexplained

ANZ Royal Bank chief executive Damian Bell has resigned from the post he held for not much more than a month, a company spokeswoman confirmed yesterday.

He resigned “several weeks ago”, Libby Armstrong, a Hong Kong-based ANZ spokeswoman, said by phone.

No explanation was offered for the unannounced end to Bell’s multiweek tenure.

Bell took the position in February after serving as CEO for ANZ Laos, replacing former ANZ Royal head Stephen Higgins.

Higgins had run the bank since 2008.

At the time, Higgins said the leadership change was routine.

“It’s part of a regular cycle of CEOs,” he told the Post, noting that regional positions often lasted three to four years.

ANZ Royal is a joint venture between Cambodia’s Royal Group of Companies and the Australia and New Zealand Banking Group, with ANZ controlling a 55 per cent majority stake.

A new CEO has yet to be appointed, but ANZ deputy CEO for Asia Pacific, Europe and America Alistair Bulloch is standing in during the interim, according to the spokeswoman.

“We will hopefully announce the appointment of someone to the position soon,” Armstrong said.

The spokeswoman and other ANZ Royal officials declined to say why Bell resigned after such a brief stint in the position.

When contacted yesterday, Royal Group chairman Kith Meng said the move was “part of our company strategy”, before saying he was in a meeting and hanging up.

Bell could not be reached yesterday for comment.

To contact the reporter on this story: Don Weinland at [email protected]


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which