Commonwealth Bank of Australia Reviews Colonial First State Global Asset Management, Including IPO Possibility
Commonwealth Bank of Australia is undertaking a strategic review of its global asset management business – Colonial First State Global Asset Management, known outside of Australia as First State Investments.
” IPO Possibility for Colonial First State – A$219 billion AUM “
The strategic review will consider a range of options, including an IPO. The asset management business is a global, diversified investment management business with A$219 billion.
Source: Official Press Release
About Commonwealth Bank
The Commonwealth Bank is Australia’s leading provider of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and sharebroking products and services. The Group is one of the largest listed companies on the Australian Securities Exchange and is included in the Morgan Stanley Capital Global Index. It was was founded under the Commonwealth Bank Act in 1911 and commenced operations in 1912, empowered to conduct both savings and general banking business. Today, the bank has grown to a business with more than 800,000 shareholders and 1,100 branches nationally.
- Origin : Sydney, Australia
- Assets : $933.1 billion
- Revenue : $24.6 billion
- Employees : 52,000
Official Website: www.commbank.com.au
News & Media: Press Release
Updated on 8th August 2016