New ANZ chief executive Nuno Matos to hit the ground running

Nuno Matos will hit the ground running on his first day in the top job of the big four bank, with plans to boost investment in regional hubs high on his priority list.

New ANZ chief executive Nuno Matos has a busy schedule planned for his first day in the top job at the big four bank. Picture: Arsineh Houspian

Nuno Matos is in the building, with ANZ’s new chief executive noting plans to boost the bank’s investment in regional hubs as he marks his first day in the job on Monday, taking over from veteran big bank boss Shayne Elliott.

Mr Matos, a Portuguese banker who was a contender for HSBC’s top job after a stint running that bank’s wealth and personal banking operation from Hong Kong, takes on the ANZ job earlier than originally intended.

The long-time banker, who made a brief foray into teaching at the Catholic University of Portugal, had originally been slated to kick off from July 3.

But events at ANZ, including a review of its markets business and another $250m capital penalty from the prudential regulator, led the bank to bring forward the leadership handover.

Mr Matos will mark his first day with a roundtable meet-and-greet with members of ANZ’s executive committee, several of whom he was already introduced to after touring Australia in January as part of a flying visit to watch the Australian Open tennis men’s final.

The meeting at ANZ’s Bourke Street headquarters, in Melbourne’s Docklands, will be followed by a gathering of the bank’s non-financial risk committee.

That meeting is a clear signal from ANZ it will prioritise the area after the Australian Prudential Regulation Authority warned the bank was falling flat in stopping bad behaviour from its bankers.

Mr Matos meet the newly empowered Mark Evans, who was elevated to the group head, non-financial risk program delivery job just last month.

This came in the wake of a string of changes at ANZ after the bank published a review into its markets business undertaken by Oliver Wyman consultants.

Mr Evans was previously ANZ’s chief compliance officer and head of strategic planning and execution for the bank’s institutional arm under its boss Mark Whelan.

New ANZ chief executive Nuno Matos. Picture: Aaron Francis

Against this backdrop, Mr Matos will visit an ANZ branch in Melbourne’s city centre to meet a handful of the big four’s commercial banking customers.

Following this, Mr Matos will hold an all-staff town hall, in-person for bank staff in Melbourne, aimed at delivering his message to bankers across the 29 markets ANZ operates in.

In an open letter to customers, to be sent on Monday and shared with The Australian, Mr Matos outlines his plans to “to invest in world-class products and services”, signalling plans to boost the bank’s operations across the country and reaffirming its commitment to cash.

“We will also improve the way we serve customers in regional Australia, through investment in our regional hubs,” he said.

“We will play our role in industry efforts to ensure cash is available for Australians, no matter where you live.”

Mr Matos also says all ANZ customers will soon be able to access banking services at Australia Post offices, as the bank prepares to ink a deal for Bank@Post, it currently the only major not offering the service.

“I’m also acutely aware many in the community are finding the cost-of-living challenge hard,” he said.

Next week Mr Matos will visit New Zealand, where he will tour ANZ’s operations in the market where the bank is the largest major player.

But Mr Matos will also face tests in the coming months, with the Australian Securities & Investments Commission weighing up how to proceed with an investigation into ANZ over allegations its traders manipulated a $14bn government bond market.

This could see ANZ face court, in what may resemble a re-run of ASIC’s case years earlier against the bank over allegations its traders rigged the Bank Bill Swap Rate.