From her first bank deposit at age six to leading New Zealand’s biggest bank, CEO of ANZ New Zealand, Antonia Watson is a firm believer in the power of education, innovation, and women supporting women. 2025 is about digital change and putting customers first, the leader tells Canterbury Today.
Banking on innovation
What was your earliest investment? Your best investment? Have you always been good with money?
My mum, who was always good with money and an active investor, was a big believer in the value of saving as early as you can. I recall taking my money box to the bank when I was about 6 years old–I had $17.33, much of it in small coins–and I remember the teller being amused as I handed it over.
My mother also taught me “the miracle of compound interest” and the fact that money does make money, even if it’s as simple as a term deposit. As soon as I had a proper job, each month, as soon as I was paid, I put aside a little bit of money in an investment fund. It’s easier to save if you never see the money, just like KiwiSaver contributions.
When it comes to my best investment, I wish I could say I’d bought Nvidia, Apple, Xero, Bitcoin or something like that early on, but the reality is I am what you might call a lazy investor. I mainly stick to diverse managed funds.
How does ANZ support small businesses?
New Zealand businesses are coming out of what has been a really challenging period. Kiwis are very aware of what is going on in the economy, and we are seeing this play out through our customers’ behaviour. That cautious consumer spending is impacting businesses, particularly in sectors like retail and hospitality. However, there are reasons to be optimistic.
Our lending to small business customers grew in the first half of the financial year as we continued our focus on helping New Zealanders to start and grow their businesses.
We continue to support our small business customers by providing data and insights, running webinars and in-person events covering topics such as sustainability, economics, export and trade, and by offering sector-specific insights in areas such as food and beverage, agriculture, and Māori in business.
Over 7,000 customers signed up for our HOWTWO Small Business Programme, which offers products, support, insights and other tools to help them succeed beyond their second year.
We also launched FastPay Tap, with around 1,200 accounts now active on Apple and Android, driving over $740k in monthly transactions through its seamless contactless payment solution.
Is there ever a perfect time to start a business?
It’s never easy to know when to start a business. From my own experience growing up with parents running their own busy Pharmacy in West Auckland I know how much time and energy it takes. It is also incredibly rewarding.
Doing your research and getting good people around you is important. We have a huge amount of information available through our HOWTWO Business Support Programme, and I would recommend that as a really good place to start.
What one piece of money advice do you hold closest?
I’m a big fan of education and ensuring people have the information and knowledge they need to make good decisions. When it comes to money, there are some very simple principles that I think all Kiwis should learn at a young age: things like spend less than you earn, pay off your most expensive debt first, invest in things that grow, and have some savings set aside for a rainy day. And, of course, the miracle of compound interest.
Do you still encounter gender-based discrimination as CEO of the nation’s biggest bank?
I’ve got a photo of my mother, who was a lawyer, and a group of colleagues being admitted to the bar in 1964. She stands out–one woman in a sea of men–a real trailblazer of her time. She gave up law when she had kids, in large part because in the early 1980s, law firms didn’t give women the flexibility they needed to work and raise a family. Thankfully, today, in many industries, there is a lot more flexibility and awareness around supporting staff, both men and women, and giving them the flexibility they need to balance their work and life commitments.
Today, I see a lot less gender bias than there used to be. A few years ago, we did a piece of research called Watch Women Win, which examined the obstacles preventing women’s success. It revealed that a lack of confidence, fear of failure, or feeling judged are the main factors holding women back. I’ve certainly felt what has been called “imposter syndrome” at times—doubting one’s abilities and feeling like a fraud. It can really impact confidence, hinder career progression, and ultimately detract from our ability to create diverse and inclusive workplaces. That same research highlighted that women are inspired by seeing other women celebrated for doing well. I keep this in mind—especially in my role as CEO of ANZ—and do what I can to support and encourage women, and to celebrate their efforts and achievements.
How is ANZ adapting to digital transformation?
Our current core banking system is robust and up to date, but like most platforms used by banks around the world, it is based on technology developed decades ago. That’s why we’ve got a big project underway to modernise it. This investment will allow us to be more innovative and intuitive in how we deliver banking services. We want to provide a fast, simple, and personalised digital experience for our customers, supported by a modern cloud-based system. It will also mean we’ll be AI-ready and able to support automation, both of which are important as we further improve efficiency and customer experience and make more open banking services available.
What have you been reading and watching lately?
Recently, I’ve started listening to podcasts on my walk to work and have been binge-listening to lots of old episodes of Malcolm Gladwell’s “Revisionist History”. A couple of episodes in season 8 on guns
and gun violence are worth a listen. Also, for Kiwis of a certain age, “Juggernaut: The Story of the Fourth Labour Government” takes you back to the 1980s.
As for books, I’ve recently enjoyed “By Any Other Name” by Jodi Picoult. It tells the story of an Elizabethan woman who many believe wrote some of Shakespeare’s plays, alongside a contemporary writer struggling for credit as a playwright. Another book along the same lines is “The Women” by Kristin Hannah, about a Vietnam War nurse. I’m also a big fan of Richard Osman of “Thursday Murder Club” fame. He has started a new series, which is equally as excellent, called “We Solve Murders”.
What are ANZ’s biggest challenges for 2025?
As we look ahead to the rest of the year our focus is on supporting our customers and the broader economic recovery. While there are still challenges ahead, we’re seeing encouraging signs that New Zealand’s economy has some firm foundations and there are green shoots.
It’s important to note that while it is now looking like it will take a little longer, the New Zealand economy is forecast to continue to improve as the impacts of interest rate cuts work their way through. As interest rates have come down, we’ve finally started to see some positive signs in the ANZ Financial Wellbeing Indicator. The indicator, which acts as a ‘pulse check’ on how Kiwis feel about their financial situation, rose slightly in the quarter to March 2025, as people start to feel better about their situation.
In the last few months, we’ve also seen our exporting businesses concerned about the shifting trade trends and volatile global environment. Many are looking to diversity their markets, something ANZ – which operates in over 30 markets – is well placed to help with. Those that have a flexible and agile approach to distribution, are nimble and have an open mind, are finding new opportunities. As one door closes, they are looking for another that might be opening.
ANZ New Zealand remains in a strong position to support the country’s housing, business and trading needs as the nation navigates the global uncertainty.
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