One of Australia’s largest companies has found a new chief executive, a “capable and experienced” international banker”.
ANZ has appointed a new chief executive following the resignation of former chief executive Shayne Elliott.
The new chief executive is Portuguese-born Nuno Matos, 57, who will move out of Hong Kong after leaving his position at HSBC.
ANZ, Australia’s fourth-largest bank, is accused of a bond trading scandal that cost taxpayers money and overstated its profits.
Mr Elliott, who is in his early 60s and began his career in his native New Zealand, announced his resignation on Monday and will leave ANZ in July.
“Leading ANZ over the past nine years has been the highlight of my career,” he said in a statement.
ANZ CEO and executive director Shayne Elliott will leave the company in July. Image: NewsWire/Martin Ollman
“I am proud to leave the bank in such a strong state, particularly given the work we have done to simplify the business, transform the Institutional division into one of the best banks in the world, and position our retail bank for the future.”
Mr Elliott also pointed to the $4.9 billion acquisition of Suncorp Bank as a significant achievement.
The Australian Securities and Investments Commission is investigating ANZ traders for alleged bond manipulation.
Regulators are assessing whether traders at the bank manipulated the pricing of $14 billion in government bond sales, which cost taxpayers but netted ANZ huge profits.
ANZ Bank recently closed a branch, leaving customers in the Blue Mountains 150 kilometres from their nearest branch. Picture: NewsWire / Gaye Gerard
Mr Elliott has previously said “based on what we’ve seen we don’t see any issues”.
Since 2015, Mr. Matos has served as CEO of HSBC Mexico and then Europe, and most recently as head of wealth and personal banking for the London-based bank.
He will receive an annual salary of $2.5 million and will be eligible for a short-term bonus of $2.5 million and a long-term bonus of $3.4 million in his first year in Melbourne.
Mr. Matos has worked in Hong Kong, the United Kingdom, the United States, Spain, France, Brazil, Mexico and Peru.
Incoming ANZ chief executive Nuno Matos will also be named executive director. Image: Supplied
ANZ chairman Paul O’Sullivan said Mr Matos was a “talented and experienced” international banker”.
Mr Matos said under his predecessor’s leadership ANZ had become one of the world’s leading institutional businesses.
“I have long admired ANZ, particularly under Shayne’s leadership, and I am honoured to have been selected… My initial focus will be on building on the work already underway and ensuring all of our stakeholders gain further value from their relationship with ANZ,” he said.
ANZ’s leadership changes mean three of Australia’s big four banks have appointed new chief executives this year.