Strategy
ANZ Rebrands Wealth Management Businesses
ANZ Banking Group has announced that it is rebranding its
funds management and life insurance businesses in Australia and
New Zealand.
The new name,
OnePath, reflects the bank's current moves to bolster its
wealth management operations, the company said in a statement.
ANZ has been working to integrate its wealth management business
with its E*Trade online broking unit, after it acquired full
ownership of its joint ventures with ING in November 2009.
"The introduction of the OnePath name and brand is another
important element in our growth strategy. It recognises that
successful wealth businesses need to be positioned and operate as
specialists with capabilities that support the particular needs
of customers and intermediaries," said Phil
Chronican, chief executive of ANZ Australia.
ANZ has the licence to use the ING brand until November 2010,
after which time the OnePath name will be officially
launched.
