Exits come as Matos reshapes C-Suite to pursue ‘ANZ 2030’ strategy
ANZ has seen the departure of two key executives in its risk and compliance departments.
According to an AFR report, Guy Boyd, who has acted as ANZ’s chief compliance officer since July 2019, has left the bank, as has ANZ’s chief risk officer for Australia Jason Humphrey.
Humphrey’s departure comes as Christine Palmer prepares to take over as group chief risk officer in December. Matos previously worked with Palmer at Spanish banking giant Santander.
Boyd has updated his LinkedIn profile to reflect his departure.
The departures come at a crucial time for ANZ as it attempts to reinstate public trust following a series of unflattering developments.
The financial services heavyweight vowed reforms after copping a $240 million sanction in September over misconduct in both government and customer dealings.
ANZ admitted to a series of breaches, including misreporting bond trading data to the Australian government, failing to address customer hardship notices, not paying promised interest to customers, and charging fees to deceased customers without timely refunds. The four proceedings before the court cover misconduct in both ANZ’s Institutional and Retail divisions, with penalties proposed for each.
This and other regulatory fines, alongside restructuring costs, weight on ANZ’s full-year results, with the bank penning a 10% profit slide in the 12 months to 30 September.
But chief executive Nuno Matos (pictured), who took the bank’s reins in May, has acknowledged ANZ’s challenges and committed to steering the ship to calmer water.
Under his ‘ANZ 2030’ roadmap, Matos has five priorities in the immediate term, namely:
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Reset ANZ’s culture “to a much more clear, decisive and accountable” one
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Integrating Suncorp Bank
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Develop a “single-customer front-end”
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“Be very deep in productivity” and
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Address lingering issues around non-financial risk
Restating his commitment to his ANZ 2030 vision during this week’s shareholder address, Matos outlined four pillars of redemption, namely ‘customer first’, ‘simplification’, ‘resilience’ and ‘delivering value’.
Matos has made a string of noteworthy hires to help guide his vision.
Alongside Palmer, ANZ is also in the process of onboarding McKinsey stalwart Pedro Rodeia, who will join as group executive Australia retail; and former HSBC chief information officer Donald Patra, who will have the same title at ANZ.
