From a multibillion-dollar acquisition to a bond trading scandal, Shayne Elliott’s tenure as ANZ chief executive has seldom been dull, but his parting act was something of a damp squib after a flat-lining profit and dividend left investors unimpressed.

Elliott signed off after almost 10 years at the helm, saying he left his successor, HSBC hired gun Nuno Matos, a simpler, stronger bank. Yet cash profit of $3.56 billion for the first half underwhelmed, sending ANZ’s shares down around 2 per cent in a flat broader market.