Matos – A Leadership Perspective

Let’s take a perspective on leadership following recent criticism of the new ANZ CEO, Nuno Matos. Why? Because it is important to share our ideas and open a conversation. No answers are right or wrong.​

I don’t know Mr Matos from a bar of soap, but feel compelled to mull over the recent perils of his job – media scrutiny.

The media have looked at every aspect of Matos’s waking day, including his living/travel arrangements, style of dress and even his lack of choice of an AFL team. One hears the comment “Does he even want to stay in the job?!”.

The man has challenges ahead and it seems everything comes in threes as he takes a chainsaw to employee headcount and broader culture at ANZ, magnified by the announcement of $240M in trading fines, in response to problems that happened way before his time.

No doubt he mulls on the advice of Niccolò Machiavelli (1469–1527), the Italian Renaissance diplomat and philosopher, known for his political treatise, The Prince, who wrote:

“It ought to be remembered that there is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things”.​

The question is, when times are tough, how should Matos respond?

I am no dress expert, but I question the advice that Matos should ‘dress down’ as it has been suggested, so that he can empathise with recent redundancies. Is this taking rapport too far?

It reminds me of the situation where I have been asked on many occasions whether one should mirror the behaviour of a boss who leans back on his chair with legs splayed and arms folded behind his head. The answer, should you be seriously looking for one, is most possibly “no”. (that’s an understatement, but I don’t want to appear emphatic!)

I don’t want to appear uncaring either for those who are devastated about job losses, but Matos has a leadership role to play. I read that, in any one day, he will meet Treasurer Jim Chalmers and Coalition treasury spokesman Ted O’Brien, and plans to follow with a meeting with NSW Treasurer Daniel Mookhey. Now, these are big fish on our national stage and while Matos’ predecessor, Elliott, oversaw a $4.9 billion takeover of Suncorp’s banking division, Matos is no doubt mulling over multiple huge deals before he finishes breakfast. One can not underestimate the pace and pressure of such a role.

It has also been suggested that, while pursuing these tasks, he should stay in lower grade accommodation.

I ask the question as to whether you have ever flown on one of those cut-price airlines while doing business? It’s all very funny when it all works, but when things go wrong, often the lack of service and leadership means you lose days of work, nights of sleep and gain a whole raft of trauma experiences. It’s just not an option for a busy professional. Believe me, I know!

Staying in a 5-star hotel isn’t leadership luxury. It’s about proximity and services: taxis, dry cleaning, room service, soundproofing and reliable internet, to name but a few. He deserves it. He needs it. He has to (leaders have to) have this support to carry out his daily tasks.

Likewise, is he supposed to slouch and buckle over in his posture and hold his breath? No.

Similarly, is he supposed to stutter and use uptalk at the end of sentences to undermine his statements? No. He needs to speak strongly, project his statements and have the full force of inspiration in his sound.

It’s just my perspective, but from that perspective, I say this is not a time for Matos to pull back on his own brand or support. He needs everything he can gather around him to get the job done. Whatever he needs to get by is fine by me. Your thoughts?

PS choose Collingwood.

Love,
Dr Louise Mahler

Source:
https://www.afr.com/companies/financial-services/thousands-of-jobs-to-go-at-anz-as-nuno-matos-accelerates-overhaul-20250901-p5mri1
https://www.afr.com/companies/financial-services/anz-s-nuno-matos-reads-riot-act-to-staff-says-culture-must-pivot-20250721-p5mgns
https://www.afr.com/companies/financial-services/anz-agrees-to-pay-240m-fine-after-bond-trading-retail-failures-20250914-p5muz1