Bank earnings crunch may spur ANZ to lead sector back into wealth management
Chief executive Nuno Matos is testing the waters for a return to wealth management. But have banks truly learned from their past?
Chief executive Nuno Matos is testing the waters for a return to wealth management. But have banks truly learned from their past?
Giving evidence to a parliamentary inquiry, Nuno Matos drew on his experience of unrest caused by housing unaffordability in his native Portugal.
ANZ boss Nuno Matos says he sees a "dangerous situation" of rising rates and frothy equity markets.
The bank’s annual report noted that a 40 per cent rise in employee relations cases involving alleged breaches of its code of conduct had been driven by “an increased focus on office attendance non-compliance”.
Nuno Matos has won the market over by slashing jobs and simplifying the bank. Now he’s preparing for his big growth play – and it’s a massive roll of the dice.
ANZ’s cash profit was up 31 per cent and Nuno Matos says its transformation is on track. Its margin is flat and provisions are higher.