ANZ’s priority lies in ING
(25 February 2010 – Australia) A spokesman for ANZ has said that currently the bank’s sole priority in wealth management is focusing on integrating its ING assets into the bank, however speculation is rife surrounding a possible A$4 million deal with AMP.
The Sydney Morning Herald reported that unnamed sources said that AMP was considering a $4 billion deal that would give ANZ 30 percent stake in the wealth manager for in return the bank’s ING business.
The newspaper also reported that the matter hasn’t been discussed at board level yet and that there have been no official discussions between ANZ and AMP.
The spokesperson for the bank said on the matter, that at present ANZ's sole focus is integrating ING and on organic growth in wealth management.
The newspaper also reported that the matter hasn’t been discussed at board level yet and that there have been no official discussions between ANZ and AMP.
The spokesperson for the bank said on the matter, that at present ANZ's sole focus is integrating ING and on organic growth in wealth management.
Subscribe