Born in Portugal with a career that has taken him to Peru, Brazil, Mexico and, eventually, Hong Kong’s high streets, Nuno Matos’ route to Australia is an unlikely one, especially in the close-knit world of banking.

The 57-year-old will become chief executive of ANZ from July 3, taking over from its under-pressure incumbent Shayne Elliott. It is a long handover period and Elliott’s decision to stay on in an advisory role for another three months until October perhaps speaks to Matos’ inexperience in the market.