ANZ starts cutting jobs in institutional banking unit - report

2025-09-03 06:10:55 ET

• ANZ Group (ANZ) reportedly began to let go of people within its institutional banking division as an overhaul by newly installed Chief Executive Officer Nuno Matos ramps up.
• The Melbourne-based firm on Tuesday began cutting so-called middle- and back-office jobs within that unit, Bloomberg reported.
• Precisely how many roles will be eliminated from the restructure remains unclear, and the bank has said it will update investors on the process at a strategy day in October.
• ANZ is also restructuring its senior risk management team by appointing separate chief risk officers for its retail and commercial divisions, alongside its existing institutional risk chief. All three roles will report directly to the group chief risk officer, Kevin Corbally.

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