New ANZ office positions Hong Kong as regional hub for business expansion across Asia
ANZ has positioned Hong Kong as its North East Asia hub by doubling its office space in the city and upgrading client servicing capabilities in a further step in growing the Group’s business in Hong Kong and the region.
ANZ at Exchange Square has leased an additional floor and established a larger markets dealing room to underpin its growth strategy in Hong Kong and across the region. The Hong Kong office is now home to regional and institutional banking leadership teams.
ANZ Chief Executive Officer North East Asia, Mr Alistair Bulloch said, “Hong Kong is the gateway to the rapidly developing economy of China and an integral part of the Pearl River Delta. ANZ is well-positioned in Hong Kong to leverage the large trade flows and liquidity pools by deepening client relationships and market penetration.”
“Our ambition is to become a top four foreign bank in Greater China and for our Asia Pacific business to contribute A$1.5 billion, or 20 per cent of the group’s Net Profit After Tax, by 2012,” Mr Bulloch said.
ANZ’s expanded Hong Kong office enhances ANZ’s institutional banking capacities, particularly in cash management and debt capital markets. It also enables ANZ to expand its markets and syndication business. ANZ’s institutional teams serve Asian regional corporations and local companies, as well as clients with links to Australia and New Zealand.
Hong Kong is also an important base for ANZ’s Private Bank, which has launched a Financial Advisory business to assist high net worth expatriates and Asian investors with their strategic investment decisions. The ANZ Private Portfolio Service will assist clients manage their investments both offshore and onshore while key advisors will also assist in solutions covering risk and taxation planning as well as multi-currency loans and deposits.
“We are reshaping ANZ’s future and the opening of the new Hong Kong office signifies our strong growth momentum,” Mr Bulloch said.