ANZ gets new CEO
ANZ Group has announced its long-serving chief executive, Shayne Elliott, will retire and be replaced by international banking executive Nuno Matos.
Monday, December 9th 2024, 10:54AM
Matos will take over on July 3, 2025, with Elliott, a New Zealander, stepping down after nine years.
Matos was most recently CEO of wealth and personal banking at HSBC.
ANZ Group chair Paul O’Sullivan said they were pleased an international banker of Matos’ calibre and extensive experience would join the bank to lead the execution of its strategy.
His appointment was the culmination of long-term systematic work by the board on leadership succession.
Having assessed multiple external and internal candidates, the board knew Mato was the right person to build on the transformation that had already progressed well under the leadership of Elliott and his team.
“Critically, Nuno has led several bank business, risk and technology transformations, which will be a significant benefit as we prepare to scale the migration of customers, including those from Suncorp Bank, across to ANZ Plus as well as supporting our focus on non-financial risk.”
O’Sullivan said Elliott led the critical transformation that would be the cornerstone of ANZ’s long-term success.
“He was the first CEO to identify the need for simplification, later becoming a mantra for the industry. He rebalanced our portfolio to materially improve the capital efficiency and focus of the group while also making our business less complex and safer to manage.”
The Australian Financial Review reported that ANZ New Zealand chief executive Antonia Watson was among the internal candidates considered but it was reported she ruled herself out early, given the move to Australia for the job.
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