Newly appointed ANZ CEO Nuno Matos said building a “winning culture”, taking opportunities after a crisis and strengthening social connections will be central to his leadership.
Speaking at the CCIWA & ANZ Leadership Lunch to about 350 business leaders yesterday at The Westin, Matos reflected on his first 100 days in the top job, while ANZ Chief Economist Richard Yetsenga provided insights on the global economic outlook.
Matos told attendees his top priority was clear: “To really build a winning culture that delivers to customers.”
He said clarity, decisiveness and pace of execution would be critical.
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Lessons in crisis leadership
Drawing on 35 years of international banking experience across several continents, Matos reflected on his leadership roles weathering financial shocks.
“Never waste a crisis. Crises, if you want, are the fuel of evolution,” he said.
“Human beings don’t like change and they typically only change when they hit the wall. Try to avoid hitting the wall. But if you hit the wall, be the first one to move.”
People at the centre
ANZ CEO Nuno Matos
Matos underscored his belief that leadership was built on trust and proximity.
“Leadership is about people, not you as a leader,” he said.
“Nobody’s able to win alone. You can only win if you are able to bring people with you, and they better be good … extraordinary people.
“If they trust you, people typically move along with you, even if you are very demanding.”
Matos was supportive of workplace flexibility, saying a “balanced approach is the right one”. In-person work, he said, was vital for the social connection that supports mental wellbeing.
Global economic outlook: resilience and productivity challenges
Yetsenga described the global slowdown as “modest”, forecasting 3.1% global growth this year, compared to 3.3% in 2024.
“I view this as a pretty good outcome,” he said, pointing to strong private balance sheets and the ability of economies to absorb shocks.
However, he cautioned that productivity remained a challenge, particularly in mining, noting the industry’s outsized role in national economic output.
ANZ Chief Economist Richard Yetsenga
“In Canberra’s [Economic Reform] Roundtable this week, they could do a lot worse than have a mining productivity plan on the agenda,” he said.
On China, Yetsenga highlighted structural issues in domestic capability and profitability across sectors despite its production dominance.
“I don’t see this as an acute problem for China or the world, but it is a problem I think that won’t go away,” he said.
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