Explore the latest developments concerning ANZ chief urges.
ANZ chief urges banks to return to wealth, insurance
Australian banks should re-enter wealth management and insurance to improve their profitability, says ANZ chief executive Nuno Matos, areas they abandoned in the aftermath of the damaging banking royal commission.
Speaking at investment bank Morgan Stanley’s annual conference, Matos highlighted a steep decline in the big four’s return on capital over the past decade, which he linked to the narrower suite of services they now offer.
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