ANZ to sell off Origin
ANZ will sell its wholesale distribution business, Origin Mortgage Management Services (Origin), to Columbus Capital.
The sale is aligned with ANZ's strategy to focus on growing its own branded mortgage products.
Columbus Capital will receive transitional services from ANZ for up to 12 months following the sale, with the impact on existing borrowers expected to be minimal.
Origin has a network of mortgage managers who provide funding for approximately $2.2 billion of residential mortgages.
The sale will be finalised in the next few weeks.
AUTHOR
Staff Writer
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
