Former HSBC banker Nuno Matos to lead Australian lender ANZ

ANZ, the Australian bank, has appointed ex-HSBC banker Nuno Matos as its forthcoming CEO after he was overlooked for the same role at the London-based bank earlier this year.

Matos is scheduled to join the Melbourne-based bank in July 2025, succeeding Shayne Elliott who is retiring after a nine-year tenure as ANZ's chief, as reported by City AM.

Earlier this year, Elliott was among several senior executives at ANZ who accepted pay cuts following a bond trading and workplace conduct scandal that has shaken Australia’s second-largest lender and attracted regulatory attention. Matos, previously CEO of HSBC’s wealth and personal banking division, left the Asia-focused bank in August after a nine-year stint.

He joined HSBC from Santander in 2015. His exit followed shortly after Georges Elhedery was named CEO of HSBC following Noel Quinn’s retirement, a position for which Matos was seen as a top internal contender.

The division he led accounts for approximately 40 per cent of HSBC’s revenue. Matos is among several high-ranking executives to depart Europe’s largest bank recently, as Elhedery continues with a revamp of HSBC’s global operations.

At ANZ, Matos is set to receive a salary of A$2.5m (£1.25m) and a short-term bonus worth 80 per cent of that amount. His long-term bonus could be equivalent to 135 per cent of his salary.

Paul O’Sullivan, Chairman of ANZ, expressed satisfaction with their new leadership appointment: "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."