ANZ not interested in Perpetual
(18 October 2010 – Australia) Australia and New Zealand Banking Group (ANZ) has dismissed rumours that the bank is looking to acquire wealth manager Perpetual.
The bank’s chief executive officer Mike Smith said that while distribution of wealth management products is interesting, the company has no deals planned in wealth management at the moment.
Mr Smith also added that the bank was not interested in buying manufacturing capability in wealth management.
Global asset manager Kohlberg Kravis Roberts made a A$1.75 billion bid for the wealth manger earlier this week.
ANZ is currently conducting due diligence on the Korea Exchange Bank (KEB) and is expected to bid close to book value for the bank.
Mr Smith also added that the bank was not interested in buying manufacturing capability in wealth management.
Global asset manager Kohlberg Kravis Roberts made a A$1.75 billion bid for the wealth manger earlier this week.
ANZ is currently conducting due diligence on the Korea Exchange Bank (KEB) and is expected to bid close to book value for the bank.
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