ANZ again canvasses wealth float

ANZ/media/

19 September 2017
| By Mike |
image
image
expand image

ANZ Banking Group has sought to dampen continuing speculation around the possible sale of its life insurance, superannuation, investment and advice business but, in doing so, has further canvassed floating it off in an initial public offering.

The big banking group went to the trouble yesterday of releasing a statement to the Australian Securities Exchange (ASX) in which it noted what it described as increased media speculation relating to the possible divestment of its wealth business – something which it flagged to the market earlier this year.

However, it said it did not comment on media speculation, before adding that “the process is ongoing and ANZ remains in discussion with a number of parties as it continues to work through its options”.

The ANZ statement then added: “This includes exploring capital market solutions to create a stand-alone business”.

The statement ended on the note that the banking group would continue to take a disciplined approach to the process and would update the market as appropriate.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS