ANZ taps HSBC’s Nuno Matos as new CEO, shares fall

Investing.com– ANZ Group Holdings (ASX:) said on Monday that Nuno Matos will take over as its new chief executive officer, succeeding Shayne Elliott, who is retiring after nearly a decade at the helm.

The changes will be effective from July 3, 2025.

Matos, 57, was previously CEO of Wealth and Personal Banking at HSBC Holdings (LON:), where he oversaw operations spanning 35 markets with 87,000 employees. His extensive career includes leadership roles in Europe, Latin America, and Asia, with stints at Santander (LON:) and HSBC.

ANZ shares were down 2.2% in early trade, while Australia’s broader financials sub-index was down 0.5%

“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,” said ANZ Chairman Paul O’Sullivan.

Elliott, who will step down as CEO July 2, 2025, first joined ANZ in 2009 having also served as global managing director institutional and group’s chief financial officer.

The lender completed the $3.3 billion acquisition of insurer Suncorp’s banking business earlier this year.

This leadership shift comes as ANZ focuses on scaling its digital banking capabilities and enhancing customer experience across its core markets.