ANZ Bank’s newly appointed chief executive says Australia is “an extraordinary case of stability” and as such was an attractive market for global investors.


ANZ Banking Group’s newly appointed chief executive says Australia is “an extraordinary case of stability” and as such was an attractive market for global investors.
Three months into his new job, Nuno Matos spoke in Perth today at a CCIWA lunch.
Originally from Portugal, Mr Matos has brought 30 years of banking experience across Hong Kong, the United Kingdom, the United States, Spain, France, Brazil, Mexico and Peru to his new role.
As such, he has clear insights into how the world perceives Australia, especially as a destination for capital investment.
“Australia is an extraordinary case of stability, and constant growth and a very predictable environment,” he said.
“And an economy that is in expansion mode every year, like a clock.
“Every year the population grows almost two per cent, which means the economy grows a little bit more than that.”
At a time when many business leaders have called on the federal government to make Australia more competitive, Mr Matos said the country’s stability attracted investors.
“Australian assets are quite in demand because of that stability and the multiples that the world is prepared to pay for Australian assets are typically much higher than in other parts of the world,” he said.
“That doesn’t mean Australia is expensive but it means the world is prepared to pay more for Australian assets because of that stability.”
Commenting on export trends, Mr Matos noted that China is Australia’s largest market.
“Australia should continue to diversify its export profile as any economy would do.”
He drew parallels with his own experience as a banking executive who has needed to navigate multiple crises over the past three decades.
One of the key lessons he has learnt was the need for businesses to be diversified.
Mr Matos used the CCIWA lunch to talk up ANZ’s international connections.
“We have a very strong business in the domestic Australian market and we are the number one bank in New Zealand but we are present in 29 markets in the world,” he said.
“So we are the bank that connects Australia to the rest of the world.
“We are the bank that can follow our customers to any part of the world they want to do business.
“We are also the bank that connects the world to Australia, that brings capital and trade to Australia.”