New branding for ANZ's ING businesses
ANZ will create a new brand identity for the ING wealth management and life insurance businesses it wholly acquired last year.
In an email to staff today, ANZ’s Australian chief executive, Philip Chronican, said the wealth management businesses would continue with specialist brands — albeit brands that connect them to the broader ANZ Group.
ANZ’s buy-out of the remaining 51 per cent shareholding in its joint ventures with ING included wealth management and insurance business in both Australia and New Zealand. Chronican said a trans-Tasman team is now working on the development of a new name and visual identity for the businesses. Chronican said the businesses will switch to the new branding by the end of the year.
Chronican said it had been agreed that the “specialist wealth businesses will be best positioned for success with their own distinct brand identity, name and logo and with strong endorsement as part of the broader ANZ Group”.
“This decision to continue with a specialist brand identity has been an important one for ANZ and for the ING wealth businesses. Fundamentally, it recognises that successful wealth businesses need to be positioned as specialists in the eyes of customers and of key intermediaries, such as financial planners,” Chronican said in his email.
“The decision also supports our strategy to grow the wealth business, and will place us in a strong position to deepen the relationship with our customers and grow distribution through the IFA [independent financial adviser] and aligned adviser channels.”
This announcement will be considered a victory by those advisers who had lobbied for the businesses to maintain non-bank branding.
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
