To continue supporting its business expansion in northern Australia, ANZ has appointed Russell Shields as Northern Territory chairman.

Shields who has knowledge in retail, corporate, institutional and investment banking has been ANZ’s Queensland chairman since 2008 and will retain this role

“This new appointment reflects the growing importance of resources and infrastructure, two key sectors of the Territory’s economy,” Shayne Elliot, ANZ CEO institutional, said.

The company said opportunities in the Territory include INPEX’s proposed LNG processing facility in Darwin and a planned Marine Supply Base, supporting offshore gas operations in the Timor Sea. Also, economic growth is expected to rise to 4 per cent in 2011.

“ANZ is ideally placed to support these major opportunities. We are Australia’s only bank with a significant presence in Asia and we are one of the largest natural resource banks in the world. For example, we recently arranged a US$1.1 billion facility for Woodside, Australia’s largest publicly traded oil and gas company,” Elliott said.