Banks face generational change

Succession planning is one of the biggest issues facing Australia's banks, says Adelaide Bank boss Barry Fitzpatrick. Banks face generational leadership change as long serving executives are expected to depart from Westpac and ANZ next year. Mr Fitzpatrick is retiring and handing over to an internal replacement. At Adelaide, he oversaw the change from a building society to a bank and funds under management have grown during his tenure from $715 million to $23 billion.