ANZ again canvasses wealth float
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.
Recommended for you
The FAAA has written to over 2,000 affected members to warn them of the upcoming education deadline with the organisation warning the numbers yet to meet the requirements are “very, very high” with just six weeks to go.
HUB24 has taken an equity stake in Finura Group’s digital arm to accelerate the development of its SaaS platform, triggering the separation of Finura’s advisory business.
Coastal Advice Group has announced a rebrand to mark the next phase of the firm as it pushes to hit a target of 15 acquisitions in FY25-26, expanding its national reach across Australia.
Despite the advent of new advice technologies which promise to streamline the adviser-client relationship, research by Praemium and CoreData has found the trust and human relationship is most valued by clients.
