(9 September 2004 – Australia) ANZ is bringing its capital markets and foreign exchange businesses together in a bid to better manage risk and improve efficiencies.The bank said it was currently examining the best way to integrate the two businesses in order to “invigorate” them and position them for revenue growth.
The project will be run by ANZ Capital Markets managing director David Hornery who will report to FX managing director Rick Sawers. The bank is aiming to complete the project by October.
ANZ said the objective of the project was to better organise the businesses around bank customers, manage risk and to improve its current positions in the market.