(21 October 2016 – Global) ANZ Bank has said that it is cutting 30 jobs in its institutional banking unit.
The roles being cut are predominantly customer relationship and based across New York, London and Asia a bank spokesperson said in a statement.
“We continue to reshape our network by simplifying our business and reducing low returning assets,” the bank’s statement said.
Improving productivity is “an important part of managing the business in a low growth environment.”
The job cuts come around a month after the bank had said that its Singapore headcount was reduced by around 300 from a year ago. However, at the time, the bank said it remained committed to having an institutional banking presence across the region, with Singapore and Hong Kong remaining the two key hubs.
The bank’s full-year results will be released on 3 November 2016.