ANZ chief executive Shayne Elliott has announced his resignation and will step down from top job in July after nine years in the role.
Elliot’s replacement will be Nuno Matos, who was previously CEO of Wealth and Personal Banking at HSBC, the ANZ board said in a statement.
Matos will move from Hong Kong to Melbourne to take up the job, which will involve overseeing the integration of ANZ’s $4.9 billion Suncorp purchase.
The new CEO’s salary package will be the same as Elliott’s, with a $2.2 million fixed remuneration, as well as short-term and long-term bonuses worth 80 per cent and 135 per cent of his base salary, according to information provided by the ANZ board.
Matos has more than 30 years’ experience across retail, commercial and wholesale banking and had worked at HSBC since 2015.
“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 in the statement.
“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.”
Matos said he would be building on the work of his predecessor, Elliott.
“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.”
The Australian Financial Review reports Elliott’s time as chief executive at ANZ will likely be defined by two key events, the first being the bank’s takeover of Suncorp.
Elliott successfully fought opposition from the Australian Competition and Consumer Commission who wanted to block the purchase.
Elliott and ANZ have previously said that, although they are working with regulators, “based on what we’ve seen, we don’t see anything wrong”.
Elliott first joined ANZ in 2009 having also served as global managing director institutional and chief financial officer.
“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,” he said.
“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.”
