ANZ Group Holdings Ltd (ASX: ANZ) shares are in focus as the ASX bank share announced the current CEO is leaving and who the new CEO will be.
CEO Shayne Elliott to depart
The ASX bank share announced Mr Elliott will step down as CEO and executive director on 2 July 2025. He first joined ANZ in 2009, going on to serve as the global managing director of the institutional segment, and also the bank’s chief financial officer (CFO).
Mr Elliott said he was proud to have led the bank over the past nine years and leave it in a strong position.
ANZ Chair Paul O’Sullivan thanked the outgoing CEO for his contribution:
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.
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 focussed 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.
ANZ reveals new boss
The ASX bank share announced that Nuno Matos will become the CEO on 3 July 2025. He will also be appointed to the board.
Mr Matos has more than 30 years’ experience across retail, commercial and wholesale banking. He has left the role of CEO of wealth and personal banking at HSBC where he was responsible for 87,000 employees serving approximately 40 million customers across 35 markets.
Mr Matos joined HSBC in 2015 from Santander where he was the global head of consumer in its retail and commercial division. At HSBC, he held other roles including CEO of HSBC Bank plc and HSBC Europe, where he oversaw the transformation of its European business, according to ANZ.
ANZ Chair Mr Sullivan explained why the bank chose its new CEO:
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.
Final thoughts on ANZ shares
The bank clearly thinks Mr Matos is the right choice for the role, so now he’ll have to prove he has the abilities to do what he was chosen for.
With the ANZ share price up 20% this year, I don’t think this is the right time to invest in the ASX bank share because of the relatively high price/earnings ratio (p/e ratio). There are other ASX dividend shares I’d rather buy first.
