The Australia and New Zealand Banking Group (ANZ) has named Richard Yetsenga as its new chief economist.

Yetsenga, who joined the bank in 2011 and has been acting chief economist since March 2016, will report to ANZ’s managing director markets Shayne Collins.

Yetsenga will be responsible to lead the firm’s research that provides economic analysis on the Australian economy, global financial markets, and the economies of major trading partners.

Additionally, he will co-ordinate banks regional economic and financial markets research capability across Asia, New Zealand, Europe and America.

Commenting on the appointment, Collins said: “Richard’s vast economics experience in financial markets both here in Australia and across the region makes him ideally qualified to lead ANZ’s research team.

“Since taking on the acting role of Chief Economist he has made a strong contribution to the team through his values-led leadership, as well as having a commercial impact on the bank’s broader business.”