ANZ CEO orders strategic review to assess underperforming businesses, cut costs
"For a long time, some parts of our business have not been meeting their potential, particularly in terms of customer and shareholder outcomes and non-financial risk," Matos wrote in the note which was seen by Reuters.
"We need to be sharper and leaner, and reduce inefficiencies. The productivity levels and the cost to run our business need to be brought in line with industry standards and shareholders' expectations," it said.
The note was sent to staff by Matos to mark his first 100 days as CEO after he replaced long-time boss Shayne Elliott in May.
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