Australia And New Zealand Banking Group - Australia New Zealand Bank

The Australia and New Zealand Banking Group Limited, commonly called ANZ, is the third largest bank by market capitalisation in Australia, after the Commonwealth Bank and Westpac Banking Corporation. Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2003 and changed to ANZ Bank New Zealand Limited in 2012. From 2003 to 2012 it operated two brands in New Zealand, ANZ and the National Bank of New Zealand. The National Bank brand was retired in 2012, with a number of branches closing and others converting to ANZ branches.
In addition to operations throughout Australia and New Zealand, ANZ also operates in thirty other nations.
ANZ was named the most sustainable bank globally in the 2008 Dow Jones Sustainability Index making it the 2nd year in a row ANZ has been granted the title. In 2007 the title was shared with another Australian bank, Westpac, which had held the title for the previous five years.
ANZ was established on 1 October 1951, when the Bank of Australasia merged with the Union Bank of Australia Limited.

History

Cooperation with Australia and New Zealand Banking Group Limited (ANZ) - In November 2013, Vontobel and Australia and New Zealand Banking Group Limited (ANZ) signed a cooperation agreement based on a long-term strategic ...

19th century

• 1835: ANZ began in Launceston, Tasmania when The Bank of Australasia was established under a Royal Charter granted in London on 2 March 1835
• 1837: The Union Bank of Australia was established. This was an Anglo-Australian bank
• 1852: The English, Scottish and Australian Bank (ES&A) was established in 1852. This was an Anglo-Australian

1950-60s

• 1951: The Bank of Australasia merges with the Union Bank of Australia to form ANZ Bank
• 1963: Establishes first computer systems in new data processing centre in Melbourne, Australia
• 1966: Starts operations in Honiara, Solomon Islands
• 1968: Opens office in New York, USA
• 1969: Establishes representative office in Tokyo, Japan

1970s

• 1970:
  • In what was then the largest merger in Australian banking history, ANZ merged with the English, Scottish and Australian Bank Limited to form the present organisation, Australia and New Zealand Banking Group Limited
  • Starts operations in Vanuatu
• 1971: Opens representative office in Malaysia
• 1976: ANZ (PNG) established
• 1977: ANZ incorporated in Australia (transfer from UK)
• 1979: Acquires the Bank of Adelaide

1980s

• 1980: Singapore and New York representative offices upgraded to branch status
• 1984: Purchases Grindlays Bank
• 1985:
  • Acquires Barclays’ operations in Fiji and Vanuatu
  • Receives full commercial banking licence and opens branch in Frankfurt, Germany
  • Announces ANZ Singapore Limited
  • Opens representative office in Bangkok, Thailand
• 1988:
  • Opens branch in Rarotonga, Cook Islands
  • Opens branch office in Paris, France
• 1989: Purchases PostBank from New Zealand Government

1990s

• 1990:
  • Acquires National Mutual Royal Bank Limited
  • Acquires Lloyds’ operations in Papua New Guinea
  • Acquires Bank of New Zealand’s operations in Fiji
  • Acquires Town and Country Building Society in Western Australia

• 1991:
  • Acquires 75 per cent of Bank of Western Samoa
  • Opens representative office in the Philippines

• 1993:
  • New world headquarters built in Melbourne, Australia
  • Joint venture established with PT Panin Bank, Indonesia
  • Opens a branch in Hanoi and a representative office in Ho Chi Minh City, Vietnam
  • Opens a branch in Shanghai and a representative office in Guangzhou, China
  • Starts operations in Tonga
  • Sold Canadian operations to HSBC Bank Canada

• 1995:
  • Opens a commercial banking branch in Manila, Philippines, the first Australian and New Zealand bank to do so

• 1996:
  • www.anz.com launched
  • ANZ opens its second Vietnamese branch at Ho Chi Minh City

• 1997:
  • John McFarlane appointed Chief Executive Officer
  • ANZ Phone Banking launched
  • Official opening of Beijing branch, China
  • Bank of Western Samoa changes its name to ANZ Bank (Samoa)
• 1998: Acquires stake in PT Panin Bank, Indonesia

• 1999:
  • ANZ Internet Banking launched
  • ANZ announces strategic alliance with E*Trade Australia for online share trading service
  • Purchases Amerika Samoa Bank (Approved 2000)

21st century

• 2000:
  • ANZ sells its Grindlays businesses in the Middle East and South Asia, and associated Grindlays Private Banking business, to Standard Chartered
  • Granted local currency (Renminbi) licence from the People’s Bank of China
• 2001:
  • Acquires 75 per cent of Bank of Kiribati
  • ANZ Timor Leste opens
  • Establishes cards business in Hong Kong
• 2002:
  • Forms joint venture with ING Group for funds management and life insurance business in Australia and New Zealand
  • One millionth customer registers for ANZ Internet Banking in Australia
• 2003: Acquires National Bank of New Zealand
• 2005: Establishes ANZ Royal Bank in Cambodia, a joint venture with the Cambodian-based Royal Group company
• 2006: New world headquarters announced for Melbourne Docklands near the headquarters of the National Australia Bank
• 2007:
  • ANZ wins Money Magazine "Bank of the Year" award again after having been ousted by the National Australia Bank in 2006
  • ANZ acquires E*Trade Australia
  • Mike Smith, formerly of HSBC, assumes the role of CEO with the retirement of John McFarlane on 1 October 2007
  • ANZ acquires Citizen Securities Bank (Guam)
  • ANZ takes over from telecommunications company Telstra as naming rights sponsor for Sydney's Stadium Australia.
• 2009:
  • 25 September 2009 Announced it will buy out ING Group's 51% stake of the JV, ING Australia giving ANZ 100% control of ING Australia.
  • 12 November 2009 ANZ opens new ANZ Centre headquarters in Docklands, Melbourne
  • 1 December 2009 ANZ officially gain full ownership of ING Australia.
• 2010:
  • November 2010, ING Australia renamed OnePath
  • ANZ acquires RBS (Royal Bank of Scotland)'s interests in Hong Kong, Taiwan, Singapore and Indonesia, which were part of and traded as ABN-AMRO prior to RBS' acquisition of the Dutch bank in 2009.
• 2012
  • Announces retirement of the National Bank brand in New Zealand
• 2013
  • Becomes the first bank to reopen in the Christchurch CBD following the 2011 earthquakes

Organisational structure

Australia

• Retail Products
• Retail Distribution
• Commercial Banking
• Wealth (including ETrade in Australia and OnePath)

New Zealand

• ANZ Bank New Zealand
  • ANZ Bank
  • UDC Finance
  • Bonus Bonds
  • Direct Broking - Share trading
  • OnePath New Zealand

Institutional Banking

• Institutional banking
• Corporate Finance
• Working Capital
• Corporate banking
• Economics@ANZ

Asia and Pacific

• International Partnerships

Asia-Pacific

ANZ is one of the leading Australian banks in the Asia-Pacific region. It has been aggressive in its expansion into the emerging markets of China, Vietnam and Indonesia. ANZ is also a leading bank in New Zealand as well as several Pacific Island Nation where it competes in many markets with fellow Australian bank, Westpac. ANZ's arm in New Zealand is operated through a subsidiary company, ANZ National Bank, from 2003 to 2012, when it changed to ANZ Bank New Zealand upon merging the ANZ and National Bank brands.
In March 2005, it formed a strategic alliance with Vietnam's Sacombank involving an acquisition of 10% of Sacombank’s share capital. As part of the strategic alliance, ANZ will provide technical assistance in the areas of risk management and retail and small business banking.
ANZ has followed a similar strategy in China, where it acquired a 20% share in Tianjin City Commercial Bank in July 2006. It also negotiated a similar deal with Shanghai Rural Commercial Bank.
In August, ANZ purchased RBS's retail units in Taiwan, Singapore, Indonesia and Hong Kong, as well as RBS'si banking businesses in Taiwan, the Philippines and Vietnam. It was purchased for the price of A$687 million.
In 2008 ANZ was awarded Deal of the Year - Project Finance Deal of the Year at the 2008 ALB Hong Kong Law Awards.
As of September 2012, the company had a total of 1,337 branches worldwide.

Offshoring of jobs

ANZ have been progressively increasing work output from offshore offices. ANZ's Bangalore office has been operational since 1989, making it one of the first organisations to employ IT staff based in India. ANZ employs around 4,800 staff in Bangalore, India. 1500 IT positions, 2000 positions in Payments and Institutional Operations and International and High Value Services and 1300 positions in Operations Personal Banking have been shifted from Melbourne to India. In 2006, ANZ predicted that by 2010, over 2000 jobs would have been shifted from Australia to Bangalore. In 2012 ANZ has transferred 360 permanent staffs from Melbourne and Bangalore to Capgemini. All these staff worked in the Technology Testing and Environment Space. As ANZ CIO Anne announced earlier that ANZ want a Hybrid model of technology in order to achieve the 2017 Technology roadmap.

Advertising

In 2005 an advertisement included two famous robots: Lost in Space robot, and a Dalek from Doctor Who, although the Dalek was replaced in subsequent versions of the ad.
In 2006 the company started a TV campaign with a series of ads featuring their new mascot - the Falcon, a bird trained to stop credit card thieves, illustrating the company's measures in prevention of credit card fraud.
In 2010, ANZ ran an ad campaign parodying common banking scenarios with a fictional character known as 'Barbara who lives in Bank World', a middle-aged, rude, sarcastic and unhelpful bank manager. The adverts have received acclaim for wit and humour, but also criticism for stereotyping bank managers. Barbara is portrayed by Australian comedian Genevieve Morris.
In 2011, a series of ads were fronted by Simon Baker, the star of the American television show The Mentalist.

New headquarters

In September 2006, plans were unveiled for ANZ's new world headquarters to be located in Melbourne's Docklands precinct. The complex features a vast low rise office building, shops, car and bicycle parking facilities. The new complex will enable 6,500 ANZ staff to work in one integrated area, however the company will maintain its flagship building, 100 Queen Street Melbourne. The new headquarters is the largest office complex in Australia at 84,500 m² NLA, 130,000 sqm GFA and an accredited 6 Green Star Building. Construction commenced in late 2006 and the building opened in late 2009. The building is located at 833 Collins Street. It has been designed by HASSELL & Lend Lease Design - fronting the Yarra River.
In 2006, it was expected to cost A$478 million to build, but ended up costing $750 million by the time it was complete in 2009.
The building was one of the winners at the 2010 World Architecture Festival in the category "Interiors and Fit Out of the Year".