1 00:00:04,720 --> 00:00:06,480 Speaker 1: The Australian Financial Review. 2 00:00:07,560 --> 00:00:10,479 Speaker 2: Hello, and welcome to fifteen Minutes with the Boss. We've 3 00:00:10,480 --> 00:00:13,160 Speaker 2: had such a great response to the episodes with Matt 4 00:00:13,200 --> 00:00:16,200 Speaker 2: Common and Janine Allis that we've decided to play the 5 00:00:16,200 --> 00:00:20,120 Speaker 2: extended version of both these episodes. This week, we're going 6 00:00:20,160 --> 00:00:22,680 Speaker 2: to hear from Matt Common, the chief executive of Conwealth Bank. 7 00:00:23,040 --> 00:00:25,440 Speaker 2: There were so many great takeaways that just didn't make 8 00:00:25,480 --> 00:00:28,120 Speaker 2: the cut, so we hope you really like hearing a 9 00:00:28,160 --> 00:00:31,840 Speaker 2: lot more of what Matt Common had to say. Please enjoy. 10 00:00:36,920 --> 00:00:39,000 Speaker 3: Sometimes when you don't feel like it, it's also a 11 00:00:39,000 --> 00:00:41,560 Speaker 3: really good sort of challenge. Again, I find it quite 12 00:00:41,560 --> 00:00:44,120 Speaker 3: interesting when you're having a bad day, things have come 13 00:00:44,600 --> 00:00:47,720 Speaker 3: off track, you don't feel as well prepared and sort 14 00:00:47,720 --> 00:00:50,080 Speaker 3: of trying to embrace that to see, well, let's see 15 00:00:50,080 --> 00:00:50,520 Speaker 3: what I've got. 16 00:00:50,600 --> 00:00:51,560 Speaker 4: Yeah, that's fun. 17 00:00:53,960 --> 00:00:56,959 Speaker 3: But when I started absolutely not like everyone and I 18 00:00:57,040 --> 00:00:58,880 Speaker 3: was nervous, I was worried. 19 00:01:04,000 --> 00:01:04,200 Speaker 1: Hi. 20 00:01:04,319 --> 00:01:07,919 Speaker 2: I'm Sally Patton, Editor of Boss from the Australian Financial Review, 21 00:01:08,680 --> 00:01:16,520 Speaker 2: and welcome to fifteen Minutes with the Boss, a podcast 22 00:01:16,560 --> 00:01:20,520 Speaker 2: about success and failure and everything in between. And along 23 00:01:20,560 --> 00:01:23,280 Speaker 2: the way we're aiming to get some great advice from 24 00:01:23,319 --> 00:01:27,320 Speaker 2: our leaders. My guest today happily is Matt Common, the 25 00:01:27,400 --> 00:01:30,880 Speaker 2: Chief Executive of the Comonwealth Bank of Australia. Hi, Matt, 26 00:01:30,920 --> 00:01:31,920 Speaker 2: how's your day been so far? 27 00:01:32,160 --> 00:01:33,840 Speaker 4: Very good? Great to be with you, excellent. 28 00:01:34,120 --> 00:01:37,720 Speaker 2: Thank you for coming in now. Matt, as I said, 29 00:01:37,720 --> 00:01:40,959 Speaker 2: you're the CEO of Commonwealth Bank, Australia's biggest bank, with 30 00:01:41,040 --> 00:01:44,000 Speaker 2: the global staff of around fifty thousand people, which has 31 00:01:44,160 --> 00:01:47,120 Speaker 2: quite a few to be in charge of. Last year 32 00:01:47,160 --> 00:01:50,440 Speaker 2: you recorded a nine point eight billion dollar cash profit, 33 00:01:50,520 --> 00:01:53,280 Speaker 2: of which you return some eight billion dollars to shareholders 34 00:01:53,280 --> 00:01:57,640 Speaker 2: through dividends. You bank more than one in three Australians 35 00:01:57,680 --> 00:02:02,280 Speaker 2: and my interesting slash fum fat is that you bank 36 00:02:02,480 --> 00:02:06,320 Speaker 2: forty six percent of younger adults. That is a lot 37 00:02:06,360 --> 00:02:09,480 Speaker 2: to be proud of. It Does it make you proud 38 00:02:09,520 --> 00:02:10,440 Speaker 2: to hear those numbers? 39 00:02:10,760 --> 00:02:11,160 Speaker 4: It does? 40 00:02:11,200 --> 00:02:13,920 Speaker 3: I mean, I'm very lucky. I've been at CBA for 41 00:02:13,960 --> 00:02:17,160 Speaker 3: more than two decades. It's been a wonderful life experience. 42 00:02:17,240 --> 00:02:20,880 Speaker 3: I've you know, there's always ups and downs in any career, 43 00:02:20,880 --> 00:02:23,919 Speaker 3: in job, but I've also worked with some amazing people 44 00:02:23,960 --> 00:02:26,320 Speaker 3: over that time. And I'm you know, I'm proud of 45 00:02:26,360 --> 00:02:29,839 Speaker 3: what the Commonwealth Bank does and the opportunity to lead 46 00:02:29,880 --> 00:02:30,680 Speaker 3: it fantastic. 47 00:02:30,760 --> 00:02:35,440 Speaker 2: Okay, let's get into it. The clock starts now. My 48 00:02:35,520 --> 00:02:38,960 Speaker 2: first question is what does your morning routine look like? 49 00:02:39,040 --> 00:02:40,360 Speaker 2: What time do you get up? What happens? 50 00:02:40,639 --> 00:02:43,000 Speaker 3: So, no fixed routine, I don't have an alarm clock, 51 00:02:43,040 --> 00:02:46,839 Speaker 3: but I'll generally wake up somewhere between around six early 52 00:02:47,000 --> 00:02:48,000 Speaker 3: this morning, it was earlier. 53 00:02:48,160 --> 00:02:52,079 Speaker 4: I basically will get up, exercise, go to work. 54 00:02:52,120 --> 00:02:54,880 Speaker 2: And what does the exercise comprise of varies. 55 00:02:54,480 --> 00:02:58,519 Speaker 3: This morning gym sometimes run, not so much cycling anymore, 56 00:02:58,560 --> 00:03:01,840 Speaker 3: but probably exercise days. But if I don't have we've 57 00:03:01,880 --> 00:03:04,880 Speaker 3: got something on, I will skip it. But I generally 58 00:03:04,919 --> 00:03:07,840 Speaker 3: don't have a fixed schedule. I'm always in by a 59 00:03:07,880 --> 00:03:09,680 Speaker 3: certain time, but I sort of when I wake up, 60 00:03:09,720 --> 00:03:12,040 Speaker 3: I get up, and I don't seem to really ever 61 00:03:12,080 --> 00:03:12,480 Speaker 3: sleep in. 62 00:03:12,760 --> 00:03:14,280 Speaker 2: So what time do you get to the office by? 63 00:03:14,639 --> 00:03:16,880 Speaker 4: Somewhere around sort of seven thirty ish? 64 00:03:17,120 --> 00:03:19,320 Speaker 2: Okay, you're not particularly worried if you don't get your 65 00:03:19,360 --> 00:03:21,320 Speaker 2: exercise in, and you sort of go with the flow 66 00:03:21,360 --> 00:03:21,760 Speaker 2: a little bit. 67 00:03:22,040 --> 00:03:23,120 Speaker 4: I mostly get it in. 68 00:03:23,240 --> 00:03:25,280 Speaker 3: It'll only be if there's something I really feel like 69 00:03:25,800 --> 00:03:28,359 Speaker 3: I can't, or I'm particularly tired, or I've had a 70 00:03:28,440 --> 00:03:32,120 Speaker 3: late night. You know, sometimes it might be out two 71 00:03:32,240 --> 00:03:35,320 Speaker 3: or three nights a week at different events or traveling. 72 00:03:35,400 --> 00:03:37,880 Speaker 3: It's obviously harder when you're traveling, but I'm sort of 73 00:03:38,200 --> 00:03:41,880 Speaker 3: managed across my schedule. I try to be probably exercising 74 00:03:42,000 --> 00:03:43,480 Speaker 3: five days a week if I can. 75 00:03:43,760 --> 00:03:45,480 Speaker 2: Okay. And are you a breakfast person? 76 00:03:45,760 --> 00:03:46,119 Speaker 4: I am. 77 00:03:46,480 --> 00:03:51,160 Speaker 3: I have a fairly regular routine, but not nothing particularly sophisticated. 78 00:03:51,160 --> 00:03:54,480 Speaker 3: I have a protein shake and I have some fruit 79 00:03:54,840 --> 00:03:55,960 Speaker 3: and a green juice. 80 00:03:56,040 --> 00:03:57,760 Speaker 2: Okay. And are you a snacker? Does that last you 81 00:03:57,880 --> 00:03:58,480 Speaker 2: to lunchtime? 82 00:03:58,720 --> 00:04:02,800 Speaker 3: Most days occasion only, I'll have a snack, but not often. 83 00:04:03,120 --> 00:04:06,120 Speaker 2: Okay, all right, My next question is tell me about 84 00:04:06,160 --> 00:04:09,400 Speaker 2: a pivocial moment in your career that changed the trajectory 85 00:04:09,440 --> 00:04:12,680 Speaker 2: of what you were doing or somehow changed even the way, 86 00:04:13,480 --> 00:04:16,799 Speaker 2: somehow changed even what you wanted to be later on. 87 00:04:16,800 --> 00:04:19,960 Speaker 3: One of them would definitely be POSTGFC. So we've been 88 00:04:20,000 --> 00:04:23,440 Speaker 3: two thousand and nine and CBA was involved in well, 89 00:04:23,640 --> 00:04:27,000 Speaker 3: a financial advice group in North Queensland had failed and 90 00:04:27,040 --> 00:04:30,240 Speaker 3: a number of customers who had products with the Komwalf 91 00:04:30,240 --> 00:04:35,360 Speaker 3: Bank and I was I volunteered to lead the remediation 92 00:04:35,600 --> 00:04:37,279 Speaker 3: of that. So it was three and a half thousand 93 00:04:37,279 --> 00:04:39,760 Speaker 3: people basically lost their life savings. 94 00:04:40,000 --> 00:04:40,760 Speaker 4: I learned a lot. 95 00:04:40,920 --> 00:04:42,840 Speaker 3: I mean, I dealt for the first time with the 96 00:04:42,839 --> 00:04:48,440 Speaker 3: then CEO Ralph Board. I worked with a number of 97 00:04:49,000 --> 00:04:51,880 Speaker 3: legal firms because the bank was being sued. I appeared 98 00:04:51,920 --> 00:04:55,520 Speaker 3: in Parliament for the first time. I went and met 99 00:04:55,520 --> 00:04:59,400 Speaker 3: with customers directly. I think you learn the importance of 100 00:04:59,400 --> 00:05:03,719 Speaker 3: doing the difficul things yourself. You see the impact of 101 00:05:03,760 --> 00:05:07,680 Speaker 3: when things go bad and leverage, and those customers were 102 00:05:07,800 --> 00:05:11,719 Speaker 3: highly leaved and invested, obviously in a speculative at the 103 00:05:11,760 --> 00:05:17,520 Speaker 3: time strategy which had worked spectacularly badly in the GFC. 104 00:05:18,120 --> 00:05:21,000 Speaker 3: So I did that for most of two thousand and 105 00:05:21,800 --> 00:05:25,960 Speaker 3: nine and it was a really unique experience that I 106 00:05:26,080 --> 00:05:30,480 Speaker 3: learned a lot from, very very challenging, and you know, 107 00:05:30,680 --> 00:05:34,000 Speaker 3: a number of those lessons I think I've taken with 108 00:05:34,279 --> 00:05:35,520 Speaker 3: me throughout then. 109 00:05:35,720 --> 00:05:37,560 Speaker 2: So what are the core things that you've taken with 110 00:05:37,600 --> 00:05:39,360 Speaker 2: you from that time, Well. 111 00:05:39,160 --> 00:05:41,600 Speaker 3: I mean, I think it's important. There's no substitute for 112 00:05:41,680 --> 00:05:45,880 Speaker 3: firsthand experience. I remember after one of the customer events 113 00:05:46,520 --> 00:05:49,040 Speaker 3: and I'd finished and talking on obviously some of the 114 00:05:49,080 --> 00:05:52,360 Speaker 3: customers were very upset and angry, and my taxi had 115 00:05:52,360 --> 00:05:55,920 Speaker 3: long since left, and one of the people that were 116 00:05:55,920 --> 00:05:57,600 Speaker 3: there offered to give me a lift. I was staying 117 00:05:58,000 --> 00:06:01,599 Speaker 3: in Brisbane, CBD, just talking to them about their life story. 118 00:06:01,640 --> 00:06:04,360 Speaker 3: They'd lost everything and they'd retired. They having to go 119 00:06:04,480 --> 00:06:06,839 Speaker 3: back to work. Mom was working as a part time 120 00:06:06,880 --> 00:06:09,920 Speaker 3: in a subway store. I mean you see it up close, 121 00:06:10,480 --> 00:06:16,320 Speaker 3: working and understanding all of the implications and consequences of that, 122 00:06:16,880 --> 00:06:19,479 Speaker 3: trying to come up with the remediation. Like when something's 123 00:06:19,480 --> 00:06:22,720 Speaker 3: gone wrong, don't be pushed to a concession. Get to 124 00:06:22,800 --> 00:06:26,120 Speaker 3: the bottom of what actually happened. Say what happened. If 125 00:06:26,279 --> 00:06:29,400 Speaker 3: you've done something wrong, try and fix it as swiftly 126 00:06:29,480 --> 00:06:34,520 Speaker 3: and as fairly as possible. Really take a forensic approach 127 00:06:34,600 --> 00:06:38,920 Speaker 3: to things. Have a level of professional skepticism. Don't accept 128 00:06:39,000 --> 00:06:42,640 Speaker 3: what people say happened, not because anyone's trying to mislead you. 129 00:06:42,640 --> 00:06:46,360 Speaker 3: I think it's very hard when something's gone wrong to 130 00:06:46,520 --> 00:06:49,320 Speaker 3: necessarily sort of investigate and get to the bottom of 131 00:06:49,360 --> 00:06:51,640 Speaker 3: something yourself. I think it's just human nature. You try 132 00:06:51,680 --> 00:06:55,520 Speaker 3: to see things through a better lens than perhaps they are, 133 00:06:56,080 --> 00:06:58,839 Speaker 3: So there is importance around sort of you know, independence 134 00:06:58,839 --> 00:07:02,040 Speaker 3: of process, getting to the bottom of things. Dealing with 135 00:07:02,200 --> 00:07:05,960 Speaker 3: very difficult and emotional circumstances. You know, I dealt with 136 00:07:06,000 --> 00:07:08,760 Speaker 3: a major class action law firm at the time, which 137 00:07:09,080 --> 00:07:11,480 Speaker 3: you know, probably conventional wisdom might have been that's going 138 00:07:11,560 --> 00:07:13,960 Speaker 3: to be really challenging. But we tried to deal with 139 00:07:14,040 --> 00:07:16,720 Speaker 3: them very fairly, and I thought they dealt with us 140 00:07:16,840 --> 00:07:19,760 Speaker 3: very fairly. We got to an outcome I never felt. 141 00:07:20,120 --> 00:07:25,800 Speaker 3: I think there's a way to build a relationship that's 142 00:07:25,840 --> 00:07:30,560 Speaker 3: based on transparency and integrity, even with someone that might 143 00:07:30,640 --> 00:07:33,600 Speaker 3: otherwise be seen as you know, an adversary at that 144 00:07:33,960 --> 00:07:36,280 Speaker 3: at that point in time, and so I took I 145 00:07:36,320 --> 00:07:38,560 Speaker 3: think I probably took a lot of confidence from that, 146 00:07:38,640 --> 00:07:41,720 Speaker 3: from being exposed to something really really challenging. 147 00:07:41,800 --> 00:07:44,960 Speaker 2: So what were you doing immediately before that role and 148 00:07:45,040 --> 00:07:46,760 Speaker 2: did you put your hand up for the role or 149 00:07:46,760 --> 00:07:48,080 Speaker 2: did someone tap you on the shoulder. 150 00:07:48,280 --> 00:07:51,600 Speaker 3: I was running comseck and I put my hand up 151 00:07:51,640 --> 00:07:53,960 Speaker 3: for the role. A number of people asked, why would 152 00:07:53,960 --> 00:07:55,040 Speaker 3: you want to do that. 153 00:07:55,240 --> 00:07:56,000 Speaker 2: I'm sure they did. 154 00:07:56,120 --> 00:07:58,800 Speaker 3: I certainly didn't have any of the foresight. I mean, 155 00:07:58,800 --> 00:08:03,680 Speaker 3: looking back, it's clear that was a really important period 156 00:08:04,040 --> 00:08:07,560 Speaker 3: and a great opportunity. But I guess at the time 157 00:08:07,560 --> 00:08:10,360 Speaker 3: of putting my hand up it was less obvious, but 158 00:08:10,440 --> 00:08:12,160 Speaker 3: obviously I'm really glad I did. And I think it's 159 00:08:12,160 --> 00:08:17,480 Speaker 3: really important about embracing opportunity and trying to do difficult things. 160 00:08:17,600 --> 00:08:21,600 Speaker 3: I think when lots of leaders differentiate themselves over time, 161 00:08:22,000 --> 00:08:26,920 Speaker 3: it's generally those who move towards the hard issues. They 162 00:08:27,000 --> 00:08:30,840 Speaker 3: don't leave it to others. And that's obviously easy to say, 163 00:08:30,880 --> 00:08:32,640 Speaker 3: but it's actually incredibly important. 164 00:08:32,679 --> 00:08:34,400 Speaker 2: And was there a point where you thought you had 165 00:08:34,400 --> 00:08:36,360 Speaker 2: bitten off maybe more than you could chew you? Because 166 00:08:36,400 --> 00:08:38,199 Speaker 2: I guess that's also part of the learning. 167 00:08:38,000 --> 00:08:42,360 Speaker 3: Right, absolutely so, yes, I mean at various all of 168 00:08:42,360 --> 00:08:44,200 Speaker 3: those things. I think when you do something for the 169 00:08:44,240 --> 00:08:49,080 Speaker 3: first time, it feels it can feel daunting. I think 170 00:08:49,160 --> 00:08:52,920 Speaker 3: with the right mindset, you can gain both a lot 171 00:08:52,920 --> 00:08:55,680 Speaker 3: of experience and confidence, and a lot of things become 172 00:08:55,800 --> 00:08:59,600 Speaker 3: easier in life, and also from a career perspective after 173 00:08:59,640 --> 00:09:02,440 Speaker 3: you've done them before, and really doing things that are 174 00:09:02,520 --> 00:09:07,480 Speaker 3: challenging is so rewarding because a lot of other things 175 00:09:07,480 --> 00:09:11,160 Speaker 3: that maybe seemed hard for you before then actually seem 176 00:09:11,200 --> 00:09:13,439 Speaker 3: pretty easy, And a lot of things just get easier 177 00:09:13,480 --> 00:09:15,000 Speaker 3: with time and experience. 178 00:09:15,200 --> 00:09:17,800 Speaker 2: Yeah, it's good to know. My next question is what 179 00:09:17,920 --> 00:09:20,319 Speaker 2: is the best piece of career advice you've ever been given. 180 00:09:20,679 --> 00:09:25,280 Speaker 3: I mean, really embrace the opportunities that you're given. And 181 00:09:25,320 --> 00:09:28,319 Speaker 3: that for me would have been a few years before 182 00:09:28,400 --> 00:09:31,560 Speaker 3: that as a particular point when I was being asked 183 00:09:31,600 --> 00:09:33,640 Speaker 3: to go and lead a piece of work which was 184 00:09:33,720 --> 00:09:37,760 Speaker 3: comm see big technology project at CBA, and I didn't 185 00:09:37,800 --> 00:09:40,760 Speaker 3: necessarily want to do it, but the person that I 186 00:09:40,920 --> 00:09:44,520 Speaker 3: was working for, so it gave me that piece of advice. 187 00:09:44,800 --> 00:09:48,040 Speaker 3: And ultimately part of that was, you know, he asked 188 00:09:48,040 --> 00:09:50,360 Speaker 3: me at the time, do you trust me? And I said, 189 00:09:50,559 --> 00:09:54,440 Speaker 3: I absolutely do and I did, and he was, you know, 190 00:09:54,520 --> 00:09:56,720 Speaker 3: this is going to be really you might not think 191 00:09:56,760 --> 00:09:58,960 Speaker 3: it is, it's going to be really good and important 192 00:09:58,960 --> 00:10:00,800 Speaker 3: for you to do it. And and it taught me 193 00:10:00,840 --> 00:10:02,440 Speaker 3: a lot because I think, you know a lot of 194 00:10:03,320 --> 00:10:06,559 Speaker 3: times you see people that can be a little bit tentative, 195 00:10:07,280 --> 00:10:11,040 Speaker 3: and you know, life comes with sort of unexpected opportunities 196 00:10:11,040 --> 00:10:13,200 Speaker 3: and challenges, and I think if you're the sort of 197 00:10:13,240 --> 00:10:15,920 Speaker 3: person that's really looking for a way to, you know, 198 00:10:15,960 --> 00:10:18,480 Speaker 3: embrace an opportunity, there's so many different ways that you 199 00:10:18,520 --> 00:10:22,680 Speaker 3: can learn. You know, you tend to be then I 200 00:10:22,720 --> 00:10:26,719 Speaker 3: think rewarded with other opportunities as well. And you know, 201 00:10:26,760 --> 00:10:29,200 Speaker 3: I've just found that there are so many ways to 202 00:10:29,400 --> 00:10:32,480 Speaker 3: learn in life and in business and from other people 203 00:10:33,280 --> 00:10:35,240 Speaker 3: as well. And so I think the sort of embracing 204 00:10:35,240 --> 00:10:39,760 Speaker 3: opportunities with curiosity and trying to just continue to improve 205 00:10:40,320 --> 00:10:43,280 Speaker 3: every day, it makes a huge difference that you know 206 00:10:43,600 --> 00:10:45,960 Speaker 3: both that's a mindset as well as you know a 207 00:10:46,000 --> 00:10:48,120 Speaker 3: determination to do both of those things. 208 00:10:48,240 --> 00:10:50,880 Speaker 2: So when you're looking at those new opportunities and you're thinking, 209 00:10:51,520 --> 00:10:53,400 Speaker 2: maybe I don't want to do that because it's a 210 00:10:53,440 --> 00:10:56,240 Speaker 2: bit scary, how do you stop second guessing yourself and 211 00:10:56,440 --> 00:10:58,400 Speaker 2: just forcing yourself to say, yes. 212 00:10:58,320 --> 00:11:00,480 Speaker 3: It's important to be able to do that, and I do. 213 00:11:01,280 --> 00:11:06,040 Speaker 3: I think it's important to have constructive self reflection and 214 00:11:06,120 --> 00:11:08,319 Speaker 3: looking for the things that you can improve every day. 215 00:11:08,800 --> 00:11:12,920 Speaker 3: But I don't ruminate, I don't second guess. And I 216 00:11:12,960 --> 00:11:16,520 Speaker 3: see this sometimes people will ask about public speaking. I'm 217 00:11:16,559 --> 00:11:19,280 Speaker 3: never the sort of person that's worried about what if 218 00:11:19,320 --> 00:11:21,520 Speaker 3: I forget this or what if I just never allow 219 00:11:21,640 --> 00:11:24,520 Speaker 3: my mind to go down those sort of paths. And 220 00:11:24,559 --> 00:11:28,160 Speaker 3: some of that just comes from repetition. And so I 221 00:11:28,160 --> 00:11:29,800 Speaker 3: think there's a point you've always just got to be 222 00:11:29,840 --> 00:11:33,600 Speaker 3: prepared to commit and not look back. Like looking backwards 223 00:11:33,679 --> 00:11:36,600 Speaker 3: is you know, regret thinking about all the things you 224 00:11:36,640 --> 00:11:37,880 Speaker 3: could have or would have should have. 225 00:11:37,920 --> 00:11:38,400 Speaker 4: Forget it. 226 00:11:38,760 --> 00:11:42,480 Speaker 3: Just think about how you can take that forward. And 227 00:11:42,880 --> 00:11:45,320 Speaker 3: I think that's a really important life skill. 228 00:11:45,480 --> 00:11:49,800 Speaker 2: That is fantastic advice. No greats, don't look back, look forward. Yeah, Okay, Matt. 229 00:11:49,840 --> 00:11:52,560 Speaker 2: On that note, that is the end of our first section. 230 00:11:54,160 --> 00:11:56,080 Speaker 2: Don't go away. We're going to take a short break 231 00:11:56,160 --> 00:11:58,240 Speaker 2: and when we come back, we're going to open our 232 00:11:58,280 --> 00:12:12,880 Speaker 2: embarrassingly loath fire load tech chatterbox. Very good, welcome back 233 00:12:12,920 --> 00:12:15,559 Speaker 2: to fifteen Minutes with the Boss. I'm here with Matt Common, 234 00:12:15,600 --> 00:12:19,040 Speaker 2: the chief executive of the Commonwealth Bank. Now, Matt, this 235 00:12:19,240 --> 00:12:28,480 Speaker 2: is our section called the Chatterbox. As threatened. In front 236 00:12:28,480 --> 00:12:32,000 Speaker 2: of you is a really lovely brown, shiny cardboard box 237 00:12:32,320 --> 00:12:35,720 Speaker 2: inside which are today, I think probably about ten fifteen questions. 238 00:12:36,040 --> 00:12:38,000 Speaker 2: I'm going to ask you to have a bit of 239 00:12:38,040 --> 00:12:42,200 Speaker 2: a shuffle around, pickut some and let's start. I get 240 00:12:42,200 --> 00:12:42,520 Speaker 2: to read it. 241 00:12:42,559 --> 00:12:43,200 Speaker 3: Thanks very much. 242 00:12:46,280 --> 00:12:49,559 Speaker 2: Do you have a coping mechanism for high stress situations? 243 00:12:49,960 --> 00:12:52,360 Speaker 3: Well, I think a couple of things are really important. One, 244 00:12:52,800 --> 00:12:56,240 Speaker 3: I think being able to perform as well as possible, 245 00:12:56,240 --> 00:12:58,640 Speaker 3: which also includes dealing with high stress. There's a lot 246 00:12:58,679 --> 00:13:03,080 Speaker 3: of very conscious about sort of state. You know, good sleep, exercise, 247 00:13:03,480 --> 00:13:07,120 Speaker 3: I think, trying to always put yourself in the right position. Secondly, 248 00:13:07,480 --> 00:13:11,920 Speaker 3: I think look, dealing with stress gets easier with time. Thirdly, 249 00:13:12,000 --> 00:13:15,040 Speaker 3: as I've seen and learned, you know, often things are 250 00:13:15,120 --> 00:13:19,600 Speaker 3: not as bad as they first seen. Often the worry 251 00:13:20,080 --> 00:13:23,960 Speaker 3: can be debilitating. So I think it's a sense of 252 00:13:25,040 --> 00:13:32,199 Speaker 3: proportionality and being able to just work calmly through individual problems. 253 00:13:32,320 --> 00:13:35,240 Speaker 3: And obviously that's the most important thing about dealing with 254 00:13:35,679 --> 00:13:38,600 Speaker 3: difficult issues or stress. Just having a great team and something. 255 00:13:38,600 --> 00:13:40,240 Speaker 3: It's a big part of my job is getting the 256 00:13:40,280 --> 00:13:42,640 Speaker 3: right people in the right roles, working to their potential, 257 00:13:42,720 --> 00:13:46,160 Speaker 3: working well together. You know, once you've got that, things 258 00:13:46,240 --> 00:13:49,280 Speaker 3: are a lot less stressful. When you feel like you've 259 00:13:49,280 --> 00:13:51,680 Speaker 3: got a great team around you, you've got great support. 260 00:13:51,720 --> 00:13:54,400 Speaker 3: In my case from the board. You know, there's clarity, 261 00:13:54,520 --> 00:13:58,080 Speaker 3: there's alignment. I feel like, you know, you can work 262 00:13:58,120 --> 00:14:02,360 Speaker 3: calmly through any problem, like any any job and a 263 00:14:02,440 --> 00:14:05,800 Speaker 3: situation in life. It can be it can be stressful, 264 00:14:05,800 --> 00:14:08,880 Speaker 3: but I think with the right mindset and approach, there's 265 00:14:08,920 --> 00:14:10,840 Speaker 3: always a way forward. 266 00:14:10,880 --> 00:14:13,600 Speaker 2: Always so in terms of how much you sleep, and 267 00:14:13,640 --> 00:14:16,559 Speaker 2: how much you exercise in your recovery time, and even 268 00:14:16,800 --> 00:14:18,640 Speaker 2: what you put in your body. Do you measure those 269 00:14:18,679 --> 00:14:21,920 Speaker 2: things or do you have a device to measure those. 270 00:14:21,880 --> 00:14:24,120 Speaker 3: I have a couple of devices that measure those. Yes, 271 00:14:24,280 --> 00:14:27,920 Speaker 3: I do like metrics, but I also you know, I 272 00:14:28,040 --> 00:14:32,440 Speaker 3: if I've had a bad sleep, I won't necessarily watch 273 00:14:32,680 --> 00:14:35,200 Speaker 3: too closely. I don't, so I'm sort of like trying 274 00:14:35,240 --> 00:14:37,960 Speaker 3: to look at the averages and how I'm going over time. 275 00:14:38,200 --> 00:14:42,480 Speaker 3: I've sort of stepped back from looking at as closely 276 00:14:42,560 --> 00:14:45,240 Speaker 3: every single day as I would have a few years ago, 277 00:14:45,280 --> 00:14:48,760 Speaker 3: because I think it cann be a little bit self reinforcing, 278 00:14:48,840 --> 00:14:51,200 Speaker 3: or as I think most things in life, if you're 279 00:14:51,200 --> 00:14:55,760 Speaker 3: doing the right things consistently over a long period of time, 280 00:14:55,920 --> 00:14:59,280 Speaker 3: the benefits really really compound. So like I would never 281 00:14:59,320 --> 00:15:01,920 Speaker 3: worry about the one bad night or that I'll all 282 00:15:01,960 --> 00:15:04,680 Speaker 3: mean the few but you just know, you know, like 283 00:15:04,760 --> 00:15:07,680 Speaker 3: compound interest, if you just keep doing the right things 284 00:15:08,160 --> 00:15:11,160 Speaker 3: month in month out, it makes a huge difference. 285 00:15:11,360 --> 00:15:13,040 Speaker 2: Sleep is a really big thing at the moment. Do 286 00:15:13,040 --> 00:15:14,520 Speaker 2: you have a sleep goal? Do you know how many 287 00:15:14,960 --> 00:15:16,160 Speaker 2: hours you like to get I. 288 00:15:16,120 --> 00:15:20,600 Speaker 3: Do I try to get seven. Yeah, I measure that 289 00:15:20,640 --> 00:15:23,600 Speaker 3: in a couple of ways. I'll get less certain days 290 00:15:23,600 --> 00:15:26,520 Speaker 3: of the week versus I'll try to e which you 291 00:15:26,520 --> 00:15:28,480 Speaker 3: can't actually catch up on sleep, but you know, just 292 00:15:28,560 --> 00:15:31,400 Speaker 3: it's easier to sleep on a weekend night. I tend 293 00:15:31,400 --> 00:15:33,320 Speaker 3: to probably not sleep as well on a Sunday night. 294 00:15:33,440 --> 00:15:36,120 Speaker 3: And I'm just sort of used to the pattern. And 295 00:15:36,200 --> 00:15:40,840 Speaker 3: also I just try to manage my load physically mentally 296 00:15:41,200 --> 00:15:43,760 Speaker 3: so that I'm kind of if I've got something that's 297 00:15:43,800 --> 00:15:46,560 Speaker 3: really really hectic that's coming up, I'll try to ease 298 00:15:46,640 --> 00:15:48,880 Speaker 3: back a little bit to give myself a bit of 299 00:15:48,880 --> 00:15:52,520 Speaker 3: a rest beforehand. And likewise I try to Yeah, I 300 00:15:52,520 --> 00:15:54,000 Speaker 3: guess I plan pretty carefully. 301 00:15:54,200 --> 00:15:56,680 Speaker 2: And when it comes to exercising, are you real type A? 302 00:15:57,000 --> 00:15:58,320 Speaker 2: Do you push yourself a lot? 303 00:15:58,520 --> 00:16:01,000 Speaker 3: I like to push myself. I mean, as I've gotten older, 304 00:16:01,360 --> 00:16:04,920 Speaker 3: I don't exercise for I mean I'll train for maybe 305 00:16:04,960 --> 00:16:09,040 Speaker 3: an hour. I won't do four hours. You know, i'd 306 00:16:09,080 --> 00:16:12,000 Speaker 3: do a ten k run. I'd never do a marathon now, 307 00:16:12,120 --> 00:16:15,440 Speaker 3: you know. I just it's diminishing returns. It's I don't 308 00:16:15,480 --> 00:16:20,680 Speaker 3: think it's super healthy and it's too fatiguing. So I 309 00:16:20,800 --> 00:16:21,440 Speaker 3: just try to get there. 310 00:16:21,480 --> 00:16:22,720 Speaker 2: Do I have a day job I. 311 00:16:22,640 --> 00:16:24,120 Speaker 4: Do alongside my family. 312 00:16:24,160 --> 00:16:27,680 Speaker 3: That's I'm optimizing for my work, and so I'm trying 313 00:16:27,680 --> 00:16:30,400 Speaker 3: to do everything I can to be healthy and in 314 00:16:30,440 --> 00:16:33,040 Speaker 3: the best condition possible so I can perform as best 315 00:16:33,080 --> 00:16:33,400 Speaker 3: I can. 316 00:16:33,560 --> 00:16:33,760 Speaker 4: Yeah. 317 00:16:33,800 --> 00:16:36,120 Speaker 2: No, that's really good advice. Okay, have another fish in 318 00:16:36,160 --> 00:16:40,880 Speaker 2: the chatterbox. Let's see what turns up. Do you like 319 00:16:41,040 --> 00:16:43,640 Speaker 2: public speaking and have you always liked it? 320 00:16:43,920 --> 00:16:47,920 Speaker 4: I certainly haven't always liked it. I doubt many people have. 321 00:16:48,520 --> 00:16:49,640 Speaker 4: I do now. 322 00:16:50,240 --> 00:16:55,040 Speaker 3: Because I mean, realistically, I communicate for a living. Sometimes 323 00:16:55,080 --> 00:16:58,600 Speaker 3: I feel like I answer questions for a living, And 324 00:16:59,120 --> 00:17:01,640 Speaker 3: I mean a big part of when you're leading people 325 00:17:01,760 --> 00:17:07,200 Speaker 3: is being able to communicate clearly hopefully inspire, but also 326 00:17:08,000 --> 00:17:12,439 Speaker 3: you know, try and reach the audience, and you know, 327 00:17:12,520 --> 00:17:15,919 Speaker 3: often think that it's not always most people can't remember 328 00:17:15,920 --> 00:17:20,160 Speaker 3: what you say. Obviously that dissipates relatively quickly, but many 329 00:17:20,200 --> 00:17:23,360 Speaker 3: people can remember what it felt like when you were talking. 330 00:17:23,720 --> 00:17:25,439 Speaker 3: And I think, you know, I've just done a lot 331 00:17:25,480 --> 00:17:29,000 Speaker 3: of it, and so the repetitions make it easier, means 332 00:17:29,000 --> 00:17:32,720 Speaker 3: that you enjoy it more. I prefer I mean, I 333 00:17:32,720 --> 00:17:34,480 Speaker 3: don't like I wouldn't like to be an MC at 334 00:17:34,520 --> 00:17:34,919 Speaker 3: a wedding. 335 00:17:35,160 --> 00:17:35,920 Speaker 4: But I like SPA. 336 00:17:36,080 --> 00:17:37,880 Speaker 2: But I thought that's a lot easier than what you do. 337 00:17:38,359 --> 00:17:41,600 Speaker 3: No, I just sort of I like structure. I don't 338 00:17:41,640 --> 00:17:44,760 Speaker 3: mind doing a speech. I think, like anything, if you 339 00:17:45,440 --> 00:17:48,240 Speaker 3: don't have a mindset that you enjoy it and you 340 00:17:48,359 --> 00:17:50,960 Speaker 3: try to do a really good job and think about 341 00:17:51,000 --> 00:17:53,040 Speaker 3: like what do I really I think intent is so 342 00:17:53,160 --> 00:17:55,600 Speaker 3: important what I want to get out of this, you know, 343 00:17:55,640 --> 00:17:57,359 Speaker 3: I don't sort of stumble into things. 344 00:17:57,440 --> 00:17:58,720 Speaker 4: I'm sort of you've thought about it. 345 00:17:58,760 --> 00:17:58,920 Speaker 2: Part. 346 00:17:59,040 --> 00:18:01,840 Speaker 3: I want to think about Italy and then I just 347 00:18:01,960 --> 00:18:05,440 Speaker 3: try to push everything else out of my mind. Right 348 00:18:05,440 --> 00:18:07,800 Speaker 3: before I go on stage, I've got routine and then 349 00:18:07,880 --> 00:18:11,000 Speaker 3: I just start and I don't second guess. I don't 350 00:18:11,040 --> 00:18:14,920 Speaker 3: like over react if I don't know whatever an alarm 351 00:18:15,040 --> 00:18:18,240 Speaker 3: goes off or something, because I've done it so many times. 352 00:18:19,000 --> 00:18:21,960 Speaker 3: With that comes a degree of confidence that you know 353 00:18:22,000 --> 00:18:25,520 Speaker 3: you can you can do it well, and sometimes when 354 00:18:25,560 --> 00:18:27,520 Speaker 3: you don't feel like it. It's also a really good 355 00:18:27,520 --> 00:18:30,280 Speaker 3: sort of challenge again, because sometimes I think it's less 356 00:18:30,320 --> 00:18:34,560 Speaker 3: about how well you might do something when you're feeling 357 00:18:34,600 --> 00:18:37,280 Speaker 3: great and everything's going you know, it's actually I find 358 00:18:37,280 --> 00:18:39,000 Speaker 3: it quite interesting when you're you know, you're having a 359 00:18:39,000 --> 00:18:42,639 Speaker 3: bad day, things have gone off track, you don't feel 360 00:18:42,640 --> 00:18:46,080 Speaker 3: as well prepared, and sort of trying to again embrace that. 361 00:18:46,080 --> 00:18:48,000 Speaker 4: To see, well, let's see how much I can do. 362 00:18:48,119 --> 00:18:48,920 Speaker 4: Let's see what I've got. 363 00:18:49,000 --> 00:18:52,639 Speaker 3: Yeah, and I think that's that's fun. And so you 364 00:18:52,800 --> 00:18:56,320 Speaker 3: bet when I started, absolutely not. I mean, like everyone, 365 00:18:56,480 --> 00:18:59,600 Speaker 3: I was nervous. I was, you know, I was worried 366 00:18:59,720 --> 00:19:02,840 Speaker 3: about about that. But I don't know how many times 367 00:19:02,880 --> 00:19:06,040 Speaker 3: I've spoken in public, but a lot, so it's something 368 00:19:06,080 --> 00:19:08,879 Speaker 3: that I've certainly grown to enjoy. 369 00:19:09,119 --> 00:19:11,520 Speaker 2: I have seen you a lot in the public on stages, 370 00:19:11,560 --> 00:19:15,040 Speaker 2: and I think you're terrific. What's your routine beforehand? Do 371 00:19:15,040 --> 00:19:17,480 Speaker 2: do you have a breathing exercise or do you stand 372 00:19:17,560 --> 00:19:19,959 Speaker 2: up with your shoulders back or some people have you know, 373 00:19:20,119 --> 00:19:21,320 Speaker 2: all sorts of different routines. 374 00:19:21,520 --> 00:19:23,720 Speaker 3: I just want a little bit of quiet before I 375 00:19:23,840 --> 00:19:27,240 Speaker 3: go on stage. So if I'm going to speak, you know, 376 00:19:27,480 --> 00:19:31,160 Speaker 3: I would like like a minute or two and I 377 00:19:31,280 --> 00:19:34,320 Speaker 3: will just consciously try to push everything. You know, I 378 00:19:34,359 --> 00:19:36,520 Speaker 3: won't be trying to remember, oh, here's the thirteen different 379 00:19:36,520 --> 00:19:38,159 Speaker 3: points I need to make in the next eight minutes. 380 00:19:38,680 --> 00:19:41,400 Speaker 3: I'll just try and you know, just breathe and relax 381 00:19:41,960 --> 00:19:46,800 Speaker 3: and then start. You know, I'm a big believer in routines. 382 00:19:46,840 --> 00:19:50,080 Speaker 3: I think, you know, in professional sport and things as well. Actually, 383 00:19:50,480 --> 00:19:52,120 Speaker 3: you know, if you talk to someone who, let's say, 384 00:19:52,200 --> 00:19:54,840 Speaker 3: is an opening bats person, like the one of the 385 00:19:54,880 --> 00:19:57,439 Speaker 3: ways that they teach people to not get nervous at 386 00:19:57,480 --> 00:19:59,600 Speaker 3: the opening ball of the first test is you know, 387 00:19:59,640 --> 00:20:02,280 Speaker 3: to have a routine. So I am and I have 388 00:20:02,320 --> 00:20:07,400 Speaker 3: different routines. If on different days that are important, I'll 389 00:20:07,440 --> 00:20:09,960 Speaker 3: do a certain set of things. And I think that 390 00:20:10,080 --> 00:20:13,119 Speaker 3: just gives you a sense of comfort and consistency. 391 00:20:13,480 --> 00:20:15,800 Speaker 2: Oh I love that. Okay, next question, should we have another? Go? 392 00:20:15,960 --> 00:20:16,160 Speaker 4: Sure? 393 00:20:18,760 --> 00:20:22,119 Speaker 2: Do you have a favorite productivity hack to help you 394 00:20:22,160 --> 00:20:23,120 Speaker 2: get more out of your day? 395 00:20:23,440 --> 00:20:29,680 Speaker 3: Probably two related one. I generally think email is as 396 00:20:29,720 --> 00:20:33,520 Speaker 3: certainly as a sending device, a grotesque waste of time. 397 00:20:34,000 --> 00:20:36,760 Speaker 3: I'd hope I send probably the fewest number of emails 398 00:20:36,800 --> 00:20:39,040 Speaker 3: as any CEO. I mean, i'd do less than. 399 00:20:38,920 --> 00:20:39,680 Speaker 4: Five per day. 400 00:20:40,400 --> 00:20:40,720 Speaker 2: Wow. 401 00:20:40,920 --> 00:20:43,000 Speaker 3: Yeah, I think emails are great in terms of like 402 00:20:43,080 --> 00:20:48,400 Speaker 3: communication to read and send, They're terrible for understanding context 403 00:20:48,480 --> 00:20:52,040 Speaker 3: for problem solving. So I spend, as I said, as 404 00:20:52,040 --> 00:20:52,680 Speaker 3: a little time. 405 00:20:53,119 --> 00:20:54,760 Speaker 2: So what happens to all the emails that you get 406 00:20:54,800 --> 00:20:57,520 Speaker 2: in that are sort of probably asking for response. Do 407 00:20:57,600 --> 00:20:59,920 Speaker 2: you ignore them? Can you pass them off to somebody else? 408 00:21:00,200 --> 00:21:02,159 Speaker 3: Well, for a lot of people who work closely with me, know, 409 00:21:02,800 --> 00:21:05,480 Speaker 3: if you want to talk to me, talk to me, 410 00:21:05,760 --> 00:21:07,040 Speaker 3: come and talk to you. Yeah, I'm not going to 411 00:21:07,040 --> 00:21:09,360 Speaker 3: go back and forth on email. And then the second thing, 412 00:21:09,840 --> 00:21:12,959 Speaker 3: I'm a big believer in some of the work that 413 00:21:13,359 --> 00:21:16,280 Speaker 3: can Newport's done, which is it's all about sort of 414 00:21:16,400 --> 00:21:18,840 Speaker 3: deep work. So a lot of my job obviously I'm 415 00:21:18,880 --> 00:21:21,520 Speaker 3: in and out of different things meetings, but I also 416 00:21:21,640 --> 00:21:24,560 Speaker 3: if I really want to work on something that's important, 417 00:21:25,040 --> 00:21:28,479 Speaker 3: I'll have a big block of time, and I'll just 418 00:21:28,560 --> 00:21:30,960 Speaker 3: like to work in a certain way where I can 419 00:21:31,359 --> 00:21:34,879 Speaker 3: spend enough time to really get into it, because I mean, obviously, 420 00:21:35,200 --> 00:21:38,320 Speaker 3: sometimes I might have whatever ten or twelve different meetings 421 00:21:38,400 --> 00:21:41,800 Speaker 3: or topics that I'm context switching between, which is fine, 422 00:21:42,119 --> 00:21:45,439 Speaker 3: but if you actually really want to understand something and 423 00:21:45,560 --> 00:21:48,639 Speaker 3: take it forward, then you need to spend enough time 424 00:21:48,960 --> 00:21:52,119 Speaker 3: on you know, really understanding the material. And you know, 425 00:21:52,160 --> 00:21:54,879 Speaker 3: obviously I like just talking to the people who are 426 00:21:54,880 --> 00:21:58,400 Speaker 3: experts in that area. So I try to have blocks 427 00:21:58,400 --> 00:22:00,840 Speaker 3: of time where I can and work on something that 428 00:22:01,240 --> 00:22:03,719 Speaker 3: is important and it's sort of unstructured time, but I 429 00:22:03,800 --> 00:22:06,000 Speaker 3: use it in a certain way. Then obviously I've got 430 00:22:06,040 --> 00:22:09,199 Speaker 3: a lot of other meetings around that, and I like, 431 00:22:09,720 --> 00:22:11,760 Speaker 3: as I said, I try to avoid things that I 432 00:22:11,800 --> 00:22:14,400 Speaker 3: think are a waste of time, and i'd put email 433 00:22:14,560 --> 00:22:16,240 Speaker 3: substantially at the top of that list. 434 00:22:16,440 --> 00:22:18,800 Speaker 2: And how much time would you say, block out a 435 00:22:18,800 --> 00:22:21,360 Speaker 2: week for those deep thinking exercises. 436 00:22:21,520 --> 00:22:23,919 Speaker 3: Well, that's a great question, and my EA assists me 437 00:22:24,040 --> 00:22:27,400 Speaker 3: with that, but it really varies. I mean, when it's 438 00:22:27,440 --> 00:22:30,000 Speaker 3: coming up to something that I you know, obviously, if 439 00:22:30,000 --> 00:22:32,880 Speaker 3: it's results or you know, we've got a big strategy 440 00:22:32,880 --> 00:22:35,400 Speaker 3: session with the board and it's not just about reading 441 00:22:35,440 --> 00:22:38,639 Speaker 3: the papers, or if there's a particular topic, maybe in 442 00:22:38,640 --> 00:22:41,040 Speaker 3: a more complex topic I want to spend some time on, 443 00:22:41,119 --> 00:22:43,320 Speaker 3: then I'll try and block sort of two three hours 444 00:22:43,960 --> 00:22:48,040 Speaker 3: out on a certain day, but generally would have at 445 00:22:48,160 --> 00:22:52,160 Speaker 3: least an hour on a day. Sometimes I might get 446 00:22:52,240 --> 00:22:56,240 Speaker 3: lucky and have several hours, but I and I'll look 447 00:22:56,280 --> 00:22:59,919 Speaker 3: at that in terms of weeks in advance about what 448 00:23:00,000 --> 00:23:03,800 Speaker 3: it's the thing I really want to go and spend time. 449 00:23:03,560 --> 00:23:06,680 Speaker 2: On that, So you can plan that ahead, well, exactly. 450 00:23:06,320 --> 00:23:08,159 Speaker 3: Yeah, And sometimes that might be I might go to 451 00:23:08,200 --> 00:23:10,960 Speaker 3: the work go and see the team, meet with someone there. 452 00:23:11,040 --> 00:23:13,320 Speaker 3: I might ask for something that I can read in advance, 453 00:23:13,359 --> 00:23:15,560 Speaker 3: and then I want to ask a lot of questions 454 00:23:15,560 --> 00:23:18,080 Speaker 3: in and around it. And then obviously that compliments. As 455 00:23:18,080 --> 00:23:19,760 Speaker 3: I said, a lot of the time I'm in meetings 456 00:23:19,760 --> 00:23:22,639 Speaker 3: with my team or other members of the organization and 457 00:23:22,640 --> 00:23:24,960 Speaker 3: we're making decisions. So I mean, I guess you have 458 00:23:25,000 --> 00:23:27,400 Speaker 3: to be able to do both. But you know, there's 459 00:23:27,440 --> 00:23:30,080 Speaker 3: never enough time in any day, so trying to allocate 460 00:23:30,119 --> 00:23:35,880 Speaker 3: it as effectively and again with real intent is very important. 461 00:23:36,000 --> 00:23:40,520 Speaker 2: Okay, let's have one more question. Sure, ah, what's your 462 00:23:40,600 --> 00:23:43,720 Speaker 2: favorite podcast or streaming show? And why? 463 00:23:43,920 --> 00:23:44,600 Speaker 4: Podcasts? 464 00:23:44,600 --> 00:23:47,800 Speaker 3: I vary depending a little bit on the topic that 465 00:23:47,880 --> 00:23:52,200 Speaker 3: I'm interested in. I mean, I do like Adam Brandt, 466 00:23:52,240 --> 00:23:53,560 Speaker 3: as I said, I've listened to a lot of his 467 00:23:53,680 --> 00:23:57,520 Speaker 3: stuff sometimes, I've you know, from a health wellbeing It's 468 00:23:57,600 --> 00:24:01,080 Speaker 3: become very popular in Australia, Andrew Human and I quite 469 00:24:01,200 --> 00:24:05,600 Speaker 3: like Lex Friedman. He's got some interesting guests, some of 470 00:24:05,640 --> 00:24:08,480 Speaker 3: the tech ones. I listened to the New York Times. 471 00:24:08,800 --> 00:24:10,640 Speaker 3: I spent a lot of time on you know, on AI. 472 00:24:10,680 --> 00:24:14,760 Speaker 3: There's so much material. Obviously the AFR podcasts, thank you 473 00:24:14,920 --> 00:24:16,960 Speaker 3: nice to hear, yeah, And I mean they're very good, 474 00:24:16,960 --> 00:24:19,399 Speaker 3: sort of good summaries, you know. I've listened to a 475 00:24:19,440 --> 00:24:22,800 Speaker 3: bit of The Economist, so I don't other than the 476 00:24:22,800 --> 00:24:24,720 Speaker 3: thin I don't listen to that. It's the same thing 477 00:24:25,040 --> 00:24:31,639 Speaker 3: every week. I'm typically moving a little bit between domains streaming. 478 00:24:32,280 --> 00:24:33,800 Speaker 4: I don't watch a lot of TV. 479 00:24:34,280 --> 00:24:37,760 Speaker 3: I do what I look forward to in uh because 480 00:24:37,800 --> 00:24:42,720 Speaker 3: usually we'll do a offshore trip to see investors in 481 00:24:43,119 --> 00:24:46,040 Speaker 3: March or so I'll download the whole sort of Drive 482 00:24:46,119 --> 00:24:50,600 Speaker 3: to Survive series on Netflix. My son and I he 483 00:24:50,880 --> 00:24:54,000 Speaker 3: loves Formula one and it's a sport. I've basically zero 484 00:24:54,119 --> 00:24:57,280 Speaker 3: interesting before that series, you know, so something like that 485 00:24:57,359 --> 00:25:00,480 Speaker 3: I just find like really engaging and interesting to watch 486 00:25:00,480 --> 00:25:03,200 Speaker 3: on a long haul flight, because I wouldn't I wouldn't 487 00:25:03,240 --> 00:25:04,760 Speaker 3: do that if I was at home. I would feel 488 00:25:04,760 --> 00:25:07,359 Speaker 3: it was a bit of a waste of time. Whereas 489 00:25:07,560 --> 00:25:10,879 Speaker 3: there I find that sort of relaxing because you know, 490 00:25:10,920 --> 00:25:13,120 Speaker 3: it's a long flight and you can sort of binge watch. 491 00:25:13,160 --> 00:25:16,399 Speaker 3: But otherwise I don't probably watch that much TV. A 492 00:25:16,400 --> 00:25:18,880 Speaker 3: bit of sport because I find that easy to sort 493 00:25:18,880 --> 00:25:21,040 Speaker 3: of switch off. I've watched quite a bit of rugby league, 494 00:25:21,400 --> 00:25:23,640 Speaker 3: but not a lot of other sort of series during 495 00:25:23,640 --> 00:25:23,960 Speaker 3: the year. 496 00:25:24,040 --> 00:25:28,320 Speaker 2: Okay, on that note, you have passed. Thank you very 497 00:25:28,440 --> 00:25:37,840 Speaker 2: much the chedderbox section. We will move on to our 498 00:25:37,920 --> 00:25:41,399 Speaker 2: last question, which is if we were the holiday gods 499 00:25:41,600 --> 00:25:44,760 Speaker 2: and we granted you twelve months holiday, you could come 500 00:25:44,760 --> 00:25:47,080 Speaker 2: back to the same job, you were unencumbered, you could 501 00:25:47,080 --> 00:25:48,760 Speaker 2: do anything you liked. What would you do. 502 00:25:48,960 --> 00:25:52,840 Speaker 3: I would definitely travel. Look, i'd move between both, you know, 503 00:25:53,040 --> 00:25:57,560 Speaker 3: summer and winter. I enjoy both skiing and so i'd 504 00:25:57,560 --> 00:26:01,040 Speaker 3: probably you know, spend some time certainly off. Sure, I 505 00:26:01,080 --> 00:26:04,119 Speaker 3: suspect I will get bored well inside twelve months, so 506 00:26:04,119 --> 00:26:07,640 Speaker 3: I'd have to find something stimulating to do it at 507 00:26:07,720 --> 00:26:10,399 Speaker 3: the same time. And I guess, like everyone, i'd like 508 00:26:10,440 --> 00:26:12,600 Speaker 3: to spend some time with family. I try to do 509 00:26:12,600 --> 00:26:15,360 Speaker 3: the best I can with my kids, but I certainly 510 00:26:15,480 --> 00:26:19,919 Speaker 3: feel the sacrifices at time, which you know, I'm very 511 00:26:19,920 --> 00:26:22,160 Speaker 3: happy to make, so it would be nice. And I'd 512 00:26:22,480 --> 00:26:26,639 Speaker 3: probably like to substantively spend that time without a phone. 513 00:26:26,960 --> 00:26:30,840 Speaker 3: I think that would be quite a different feeling to 514 00:26:30,960 --> 00:26:33,280 Speaker 3: not be you know, just not be thinking about work 515 00:26:33,359 --> 00:26:35,679 Speaker 3: and not so I have to worry about that at all. 516 00:26:35,720 --> 00:26:38,600 Speaker 3: I think that would be quite for the former CEOs 517 00:26:38,600 --> 00:26:40,760 Speaker 3: that I've seen. I think that's the thing that they 518 00:26:40,920 --> 00:26:45,359 Speaker 3: enjoy most, is that the levity that comes from just 519 00:26:45,440 --> 00:26:46,200 Speaker 3: not having. 520 00:26:45,960 --> 00:26:48,600 Speaker 2: To be on your phone all the time, be content. 521 00:26:48,840 --> 00:26:51,040 Speaker 3: Exactly and you just never know, and that's just part 522 00:26:51,080 --> 00:26:53,160 Speaker 3: of the It's also part of what I really enjoy 523 00:26:53,280 --> 00:26:53,760 Speaker 3: in the role. 524 00:26:53,840 --> 00:26:55,080 Speaker 4: But you just never know. 525 00:26:55,280 --> 00:26:58,720 Speaker 3: I mean, something could happen very very quickly, and you 526 00:26:58,800 --> 00:27:00,840 Speaker 3: just need to always that's always in the back of 527 00:27:00,880 --> 00:27:03,040 Speaker 3: your mind. So at some point, not having to worry 528 00:27:03,080 --> 00:27:05,040 Speaker 3: about that, and whether that's sort of walking on a 529 00:27:05,080 --> 00:27:08,120 Speaker 3: beach or walking up a mountain, not having to worry 530 00:27:08,160 --> 00:27:10,359 Speaker 3: about what am I missing would be I think a 531 00:27:10,359 --> 00:27:10,879 Speaker 3: good feeling. 532 00:27:10,960 --> 00:27:12,960 Speaker 2: So to prevent you from getting bored, would you learn 533 00:27:12,960 --> 00:27:13,560 Speaker 2: a new skill? 534 00:27:13,840 --> 00:27:17,200 Speaker 3: I'd like to I'd probably try and read a lot. 535 00:27:17,480 --> 00:27:20,760 Speaker 3: I'd love to be able to learn a language. I'm 536 00:27:20,960 --> 00:27:24,520 Speaker 3: terrible at art and music, so I think I could 537 00:27:24,560 --> 00:27:28,280 Speaker 3: rule a number of different things out. Yes, would be 538 00:27:28,280 --> 00:27:31,200 Speaker 3: the short answer, but we wouldn't necessarily be an unlimited 539 00:27:31,200 --> 00:27:33,840 Speaker 3: set of choices of new skills that I'd. 540 00:27:33,680 --> 00:27:34,200 Speaker 4: Like to learn. 541 00:27:34,640 --> 00:27:36,280 Speaker 2: Italian or French or something like that. 542 00:27:36,480 --> 00:27:38,360 Speaker 3: Spanish I would like to be able to speak more 543 00:27:38,359 --> 00:27:40,959 Speaker 3: of My father was Spanish and he died when I 544 00:27:41,000 --> 00:27:43,920 Speaker 3: was six, and I have a half brother who lives 545 00:27:44,000 --> 00:27:46,760 Speaker 3: in Spain, and his Spanish obviously a hell of a 546 00:27:46,760 --> 00:27:50,800 Speaker 3: lot better than mine. So I feel like I could 547 00:27:50,920 --> 00:27:54,120 Speaker 3: have done a better job of learning that language. 548 00:27:55,359 --> 00:27:58,280 Speaker 2: And that, Matt, means that our time is up. It's 549 00:27:58,320 --> 00:28:00,880 Speaker 2: been a real pleasure talking to you about the way 550 00:28:00,920 --> 00:28:03,960 Speaker 2: that you have gone and deliberately done the difficult things, 551 00:28:04,040 --> 00:28:06,479 Speaker 2: because that is what is going to develop you as 552 00:28:06,480 --> 00:28:08,879 Speaker 2: a leader. I really like the way that you don't 553 00:28:09,200 --> 00:28:11,679 Speaker 2: ruminate on past mistakes. You get up and get on 554 00:28:11,760 --> 00:28:14,119 Speaker 2: with things. And I think you're amazing the way you 555 00:28:14,200 --> 00:28:16,919 Speaker 2: only send five emails a day. I also think the 556 00:28:16,920 --> 00:28:19,879 Speaker 2: way that you optimize yourself, your family and your work 557 00:28:20,000 --> 00:28:22,600 Speaker 2: is a really good lesson. You know exactly what your 558 00:28:22,640 --> 00:28:25,960 Speaker 2: priorities are. And I will finish by saying best of 559 00:28:26,040 --> 00:28:28,680 Speaker 2: luck in your year off connecting with your Spanish heritage. 560 00:28:29,320 --> 00:28:31,879 Speaker 2: So Matt, thank you so much once again for coming 561 00:28:31,880 --> 00:28:34,960 Speaker 2: in and allowing us to spend fifteen minutes with the boss. 562 00:28:35,400 --> 00:28:40,720 Speaker 4: Likewise, thanks very much, and. 563 00:28:40,600 --> 00:28:43,000 Speaker 2: Thank you to everyone for listening. If you like the 564 00:28:43,040 --> 00:28:46,080 Speaker 2: podcast and would like to hear more, please consider sharing 565 00:28:46,160 --> 00:28:49,080 Speaker 2: the podcast or writing a review, as it helps us 566 00:28:49,160 --> 00:28:52,000 Speaker 2: to reach more people and follow us wherever you get 567 00:28:52,000 --> 00:28:55,880 Speaker 2: your podcasts. At The Financial Review, we investigate the big 568 00:28:55,880 --> 00:28:59,880 Speaker 2: stories about markets, business and power. For more, go to 569 00:29:00,000 --> 00:29:03,200 Speaker 2: AFAR dot com and you can subscribe to The Financial 570 00:29:03,240 --> 00:29:07,480 Speaker 2: Review the Daily Habit of successful People at AFR dot 571 00:29:07,520 --> 00:29:13,080 Speaker 2: com slash subscribe. This podcast was hosted by me Sally Patton, 572 00:29:13,640 --> 00:29:17,120 Speaker 2: producing edited by Mandy Colin. Our theme is by Alex 573 00:29:17,200 --> 00:29:19,680 Speaker 2: garr And. Our executive producer is Fiona 574 00:29:19,680 --> 00:29:29,520 Speaker 1: Bffini The Australian Financial Review