Asset Management
ANZ Launches Integrated Wealth Unit In New Zealand
ANZ New Zealand has launched a new wealth business that
centralises ANZ's wealth offerings in the country.
ANZ Wealth, the new operation, boasts of a simpler structure
that merges all NZ-based wealth brands, including OnePath,
Private Banking, Wealth Direct, and the investment and insurance
units within the ANZ and National Bank family. Leading the charge
is
John Brody, currently the managing director of private
banking and wealth, who has been appointed managing director of
the new firm effective from 15 November 2010.
Helen Troup, the chief executive of OnePath, will be
resigning from her post.
"It's now the right time to develop a more integrated approach
for our wealth businesses and brands. This is a natural next
step,"
David Hisco, CEO for ANZ New Zealand, said in a
statement.
The news came just about the same time ANZ announced that it is
bringing the old ING New Zealand unit in-house a year after its
Australian parent bought the remaining 51 per cent it still did
not own in the company. The bank rebranded the ING venture to
OnePath in August this year.
