ANZ Considers Sale of Local Wealth Management Business
ANZ is considering to sell parts of its wealth management business after a review of the business revealed returns below its group wide targets. ANZ said that it was open to sell a range of wealth businesses covering financial advice, insurance and superannuation.
In addition to selling of parts of the bank, ANZ’s CEO has also been cutting costs in staff. The number of staff employed by ANZ declined by almost 3,600 in the year to 46,554.
News Source: Sydney Morning Herald
The Australia and New Zealand Banking Group Limited (ASX:ANZ) first opened as the Bank of Australasia in Sydney in 1835 and in Melbourne from 1838. Its history involves many different bank prior to the merger of the Bank of Australia with the Union Bank of Australia Limited on 1 October 1951. Today, it provides a range of banking and financial products and services to over 9 million customers in 34 countries in Australia, New Zealand, throughout Asia and the Pacific, and in the Middle East, Europe, and America.
- Origin : Melbourne, Australia
- Assets : $ 889.90 billion
- Revenue : $ 36.98 billion
- Employees : 50,152
Official Website: www.anz.com
News & Media: Press Release
Updated on 8th August 2016