ING does better out of ANZ transaction
ING claims to have emerged from the sale of its Australian and New Zealand life insurance and wealth management businesses to ANZ better than was originally envisaged in September.
Reports out of Amsterdam quoted ING as saying that the final terms of the sale to ANZ had been "slightly better" than those initially estimated in September.
ING described the transaction, in which it sold its 51 per cent stake in ING Australia and ING New Zealand to joint venture partner ANZ, as being part of a "back to basics" strategy to simplify the organisation.
The European reports suggested the group had identified up to 15 businesses for divestment over coming years.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
