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ANZ to Narrow Buyers for Wealth Business
ANZ has narrowed a list of companies for its wealth unit which could be worth more than A$4 billion. ANZ has invited AIA Group, MetLife & Zurich Insurance Group AG to make second round offers to the business by 15th September.
“ANZ has invited AIA Group, MetLife & Zurich Insurance Group AG.”
The division that is up for sale includes ANZ’s life insurance operations and funds management arm. Within ANZ Wealth are a number of dealer groups such as millennium3 and a planning joint venture with ASX-listed Elders.
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.
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Caproasia.com | The leading financial website for investment managers, professional investors, UHNW & HNW investors and advisors to institutions, billionaires, UHNWs & HNWs.Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
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