ANZ completes sell of Asian wealth businesses
ANZ has confirmed that it has finalised the sale of its six retail and wealth businesses in Asia in order to focus more on institutional and large corporate customers.
The decision was initially announced in 2016 and ANZ already managed to transfer its retail and wealth businesses in Indonesia, China, Hong Kong, Taiwan and Singapore to DBS Bank.
At the end of 2017, ANZ also sold its retail business in Vietnam to Shinam Bank.
ANZ Group’s executive, international, Farhan Faruqui said: “With the sale of these retail businesses in Asia now finalised, we can further strengthen our focus on supporting large corporate and institutional customers moving goods and capital across the region.”
AUTHOR
Oksana Patron
Recommended for you
Following an extraordinary general meeting today, Dixon Advisory parent company E&P Financial Group’s shareholders have voted on its proposed delisting from the ASX.
While overall financial adviser numbers have dipped below 15,500 this week, Rhombus Advisory is experiencing growth and approaching 500 advisers in its ranks.
Iress’ Xplan continues to dominate the financial planning software market with a multitude of uses, according to Netwealth research, despite newer players battling for a piece of the pie.
ASIC has shared the percentage of breach reports related to financial advice in FY24, noting increased reporting by smaller AFSLs.
