ANZ CEO sees world taking 2-3 years to work through credit, economic problems

ANZ Chief Executive Mike Smith told investors at the group's annual meeting he expected it would take the world another 2 to 3 years to work through the current financial and economic problems. "It is clear, at least in the finance market and banking, we will never go back to business as usual. We are at one of those points in history where the game has changed. The paradigm has shifted," Smith said. * This article was first published earlier today in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.