ANZ CEO Matos Says Bank Needs to Be Leaner, More Productive

ANZ Group Holdings Ltd. Chief Executive Officer Nuno Matos told staff to be more productive and halt work that doesn’t support priorities, as he pledged to unveil details of a strategy to turn around the Australian bank in coming months.

“We need to be sharper and leaner, and reduce inefficiencies,” Matos wrote in the memo to employees, marking 100 days since he took the helm. “The productivity levels and the cost to run our business need to be brought in line with industry standards and shareholders’ expectations.”