ANZ’s new chief executive Nuno Matos has warned staff they will pay the price if they try to skirt risk- management controls following a series of trading floor scandals that rocked the bank under his predecessor, and soured relations with regulators.

Matos laid down his three main priorities for ANZ in his first major interview since starting in the role on May 12, which are: improving the financial institution’s culture to make it more decisive and delivery-focused, lifting non-financial risk management, and reinvigorating the retail bank.