ANZ restructure aims for simplicity
(26 April 2006 – Australia) ANZ has moved away from its product silo approach of recent years and restructured its businesses into three divisions – Personal, Institutional and New Zealand – to boost cross sell opportunities.
Esanda, Small Business and the Pacific business have all been added to the Personal division, which is headed by Brian Hartzer.
The bank said this change increased the opportunity to leverage the Esanda brand across consumer finance products as well as auto and equipment finance, and to cross sell products to the Esanda customer base. Esanda is headed up by David Hisco.
Personal now includes Retail, Mortgages, Consumer Finance, Esanda, Banking Products, Investment and Insurance, Rural and Regional Banking, Small Business, and the Pacific.
The Institutional division, headed by Steve Targett, comprises Business Banking, Corporate Banking, Trade and Transaction Services, Corporate and Structured Finance, Markets, Client Relationship Group and Debt Products Group.
Mark Paton has moved to a new role, overseeing all client relationship and origination activities for Institutional, Corporate and Business Banking clients.
The New Zealand division, which is headed by Graham Hodges, remains unchanged.
ANZ senior managing director Dr Bob Edgar, retains special responsibility for all ANZ’s partnerships and investments, and the Private Banking business.
"These changes create a much simpler structure to reduce cross business complexity and to facilitate greater collaboration across business lines," ANZ chief executive John McFarlane said.
"This builds on the synergies that are already being generated from clustering specialist businesses around customers," he said.
The bank said this change increased the opportunity to leverage the Esanda brand across consumer finance products as well as auto and equipment finance, and to cross sell products to the Esanda customer base. Esanda is headed up by David Hisco.
Personal now includes Retail, Mortgages, Consumer Finance, Esanda, Banking Products, Investment and Insurance, Rural and Regional Banking, Small Business, and the Pacific.
The Institutional division, headed by Steve Targett, comprises Business Banking, Corporate Banking, Trade and Transaction Services, Corporate and Structured Finance, Markets, Client Relationship Group and Debt Products Group.
Mark Paton has moved to a new role, overseeing all client relationship and origination activities for Institutional, Corporate and Business Banking clients.
The New Zealand division, which is headed by Graham Hodges, remains unchanged.
ANZ senior managing director Dr Bob Edgar, retains special responsibility for all ANZ’s partnerships and investments, and the Private Banking business.
"These changes create a much simpler structure to reduce cross business complexity and to facilitate greater collaboration across business lines," ANZ chief executive John McFarlane said.
"This builds on the synergies that are already being generated from clustering specialist businesses around customers," he said.
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