RURAL banking identity Ian Perry has left ANZ to join listed agribusiness, Ruralco Holdings.
Mr Perry, the former executive director of strategy and marketing for ANZ’s Corporate Agribusiness division, is now Ruralco's general manager financial services.
In a statement, Ruralco said Mr Perry's appointment reflected the commitment of the company to the expansion of its financial services division, and the belief that agribusiness is positioned to significantly grow the Australian economy.
"We know that the growth of the middle classes in Asia will provide enormous opportunity for Australian agribusiness," Mr Perry said.
"When that day comes, the order will be big – if our primary producers are going to be able to answer the call from Asia, we need to encourage farmers and institutions to invest in agriculture now, and find new sources of capital."
During his time with ANZ, Mr Perry successfully expanded the agribusiness division to be the market share leader.
His role had a heavy focus on leading a team of agribankers and working with Asian interests primarily assisting with investment in the Australian market.
Ruralco acting chief executive Travis Dillon said Australian agribusiness was undergoing a profound transformation.
"It is great to have Ian on board, with his intimate understanding of the expanding markets of Asia, the opportunities as well as challenges – his insight will be invaluable to our business customers," Mr Dillon said.
In the past 10 years the market cap of Ruralco has increased six fold and the company has diversified its earnings base into new sectors including water products and solutions; grain marketing; live export; and financial services.
In 2014, Ruralco Finance was established, expanding the company’s business portfolio to lending, insurance and seasonal finance solutions.
The suite of finance products is backed by Rabobank.
