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ANZ has announced who is next in line to take over the CEO position after the retirement of Shayne Elliott.
Nuno Matos will take the position from 3 July 2025. He will also be appointed to the boards of ANZ Group Holdings Limited and Australia and New Zealand Banking Group Limited as an executive director.
“We are very pleased an international banker of Nuno’s calibre and extensive experience will be joining ANZ as our new chief executive to lead the execution of our strategy,” ANZ Group chairman Paul O’Sullivan said.
Matos brings over three decades of banking experience to the role. Recently, he held the position of CEO of wealth and personal banking at HSBC where he was responsible for 87,000 employees and around 40 million customers.
He succeeds Elliott who has been with ANZ since 2009, holding positions such as global managing director institutional and the chief financial officer.
O’Sullivan continued: “Nuno’s appointment is the culmination of long-term systematic work by the board on leadership succession. Having assessed multiple external and internal candidates, we know Nuno is the right person to build on the transformation already well progressed under the leadership of Shayne 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.
“The bank is in a strong position and this orderly leadership transition ensures ANZ will continue to deliver for customers, shareholders and staff in the years to come,” he said.
Speaking on the promotion, Matos noted that he is honoured to be taking on the new opportunity.
“I’ve long admired ANZ, particularly under the stewardship of Shayne, and it’s an honour to have been chosen by the board to lead the next phase of ANZ’s evolution,” Matos said.
“The ANZ franchise has a unique competitive position with two scale domestic markets, a leading institutional banking franchise, and thanks to the work over recent years it now has its two world-class platforms in ANZ Plus and ANZ Transactive. My initial focus will be to build on the work already underway and ensure all our stakeholders get even better value from their relationship with ANZ.”
Elliott leaves behind a legacy as he brought growth to ANZ through the years, notably improving capital and making processes less complex.
“Shayne led the critical transformation that will 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,” O’Sullivan said.
“Under Shayne’s leadership, ANZ now has one of the world’s leading institutional businesses, a new retail bank platform built on industry-leading technology and a culture focused on helping customers and communities thrive.
“He will be long remembered as a CEO that embedded a purpose-led strategy, setting ANZ on the path to long-term, sustained success. The entire ANZ team thank him for his service and wish him well for the future.”
Elliott reflected on his time at ANZ, proud of his contributions to the brand: “Leading ANZ over the last nine years has been the highlight of my career. I’m proud to be leaving the bank in such a strong position, particularly the work we have done to simplify the business, transforming institutional into one of the world’s best and preparing our retail bank for the future. The recent Suncorp Bank acquisition will also benefit ANZ for years to come.
“We have a great team that care deeply about their customers and I will be working hard to ensure our multi-year strategy continues with urgency over the next seven months. I’m confident ANZ has a great future and I wish Nuno every success in his new role,” Elliott said.
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