Michael Lawrence, a former managing director of AMP Bank, will lead the industry lobby, the Customer Owned Banking Association. He replaces Mark Degotardi, who left COBA at the end of August. Lawrence led AMP Bank as Managing Director from 2007 to 2015 and has also worked at NAB in a range of roles in Australia and overseas, as well spending time at Westpac. He begins as COBA CEO on December 4. ANZ will close down its small retail banking operation in the Philippines next February, reports The Australian. The paper claims to have obtained an internal email saying Metropolitan Bank and Trust Co could take over ANZ's retail operation, which has only 10 staff and $100 million in deposits. Westpac staff members will each receive $1000 worth of shares as part of the bank's 200th anniversary, reports The Australian. The bonus will cost the bank more than A$35 million.