Melbourne, 30 April 2026 – ANZ Group’s turnaround is entering a more demanding phase as Chief Executive Officer Nuno Matos moves from aggressive cost reduction to the harder challenge of proving that Australia’s fourth-largest bank can deliver sustainable growth.

Since taking the helm in May last year, Matos has moved quickly to reshape the bank. His early actions have included cutting costs, announcing plans to reduce more than 3,000 jobs, changing the executive ranks and attempting to reset a corporate culture that had come under pressure from regulators. The scale and speed of the changes have made ANZ one of the most closely watched banking turnarounds in the Asia-Pacific financial sector.

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Bernard Lee
Bernard is a social activist dedicated to championing community empowerment, equality, and social justice. With a strong voice on issues affecting grassroots communities, he brings insightful perspectives shaped by on-the-ground advocacy and public engagement. As a columnist for The Ledger Asia, Bernard writes thought-provoking pieces that challenge norms, highlight untold stories, and inspire conversations aimed at building a more inclusive and equitable society.