(Reuters) -Australian lender ANZ Group said on Monday it had appointed former HSBC executive Nuno Matos as its next CEO, replacing Shayne Elliott who is set to retire in July 2025 after nine years in the role.
Matos, 57, has 30 years of experience across retail, commercial and wholesale banking and was most recently the CEO of Wealth and Personal Banking at HSBC before leaving the bank in August shortly after missing out on the top job.
Hong-Kong-based Matos has served in several of HSBC's largest regions, including Europe and Latin America, and was among the internal candidates vying to take over as CEO of Europe's biggest bank, but Chief Financial Officer Georges Elhedery won the role in July.
"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," ANZ Chairman Paul O'Sullivan said in a statement.
ANZ shares were down about 2% in early trading on Monday after Matos' appointment was announced.
The bank, Australia's No. 4 lender by mortgages, unveiled an organisational overhaul in October to streamline operations and enhance data analytics as it seeks to address regulatory concerns surrounding its oversight of some operations.
It had also beefed up a review of how it manages non-financial risk after wide-ranging misconduct allegations sparked an investigation by the country's corporate regulator and prompted the prudential watchdog in August to increase the amount of spare cash the bank must keep on hand.
Including ANZ's management change, three of Australia's so-called "Big Four" banks will have announced the appointment of new CEOs this year.
Anthony Miller is set to succeed Peter King as Westpac's CEO next week, while Andrew Irvine took over the top job at National Australia Bank (OTC:NABZY) in April.
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