Mr Stephen has been acting in the role since June 2007 following the appointment of Peter Hodgson as group managing director – institutional.
Formerly, Mr Stephen held senior risk management roles at Lehman Brothers and at Credit Suisse in London, New York and Hong Kong.
Mr Smith said: I have had the opportunity to work alongside David in recent weeks. He knows ANZ well and has the right mix of international experience and world-class credit skills to make a significant contribution as chief risk officer.
