Set to complete his first year in the role next month, Nuno Matos has planted a flag on what ANZ will look like under his leadership.
Under the bank’s new values, respect is out and accountability is in, wiping the slate clean as he seeks to drive a full cultural reset at an institution long seen as the basket case among the major banks.
Will a new set of values change the organisation overnight? No. But it does offer an indication of how Matos is approaching the next 12 months, as pressure builds to show progress to shareholders, customers and staff — perhaps in that order.
While some might dismiss corporate values as vapid window dressing, they send a clear message to the market about what an organisation stands for and values, even when that message is not the one intended.
