ANZ completes acquisition of RBS retail and commercial businesses in Hong Kong (PDF 28kB)
ANZ today announced it had completed the acquisition of The Royal Bank of Scotland’s (RBS) retail and commercial businesses in Hong Kong.
To coincide with the completion ANZ launched a new service to meet the needs of affluent retail customers - ANZ Signature Priority Banking – which it will roll out across Asia Pacific over the next 18 months.
The first ANZ Signature Priority Banking branch was launched in Central Hong Kong at the International Finance Centre (IFC), one of six ANZ branches now open for business in Hong Kong.
In Hong Kong for the launch, ANZ CEO Asia Pacific, Europe and America Alex Thursby said: “The RBS integration is progressing to plan and today we welcome more than 40,000 customers and 350 staff in Hong Kong.
“Our business here is particularly important in connecting customers across Greater China, as well as across our Asia Pacific network, Australia, New Zealand, Europe and America.”
Features of the new ANZ Signature Priority Banking service, which is available for individuals in Hong Kong with assets greater than HK$1 million to invest, include:
individual service through a personal relationship manager, access to investment and portfolio management specialists, and 24-hour phone and internet banking;
full banking and wealth management services including savings, current accounts, investment products, insurance, mortgages and personal loans; and
international banking and investments, including services in Australia, New Zealand and across ANZ’s regional Asia Pacific network.
“ANZ has a different philosophy to many banks in the retail and wealth market,” Mr Thursby said. “With ANZ Signature Priority Banking we will be spending more time building relationships with clients and really getting to know their needs and individual goals, rather than simply selling them products. “We will also give these clients the stability and confidence of ANZ’s stability and safety, including our AA-rating.”
Mr Thursby said ANZ would also be focusing on growing its commercial banking business in Hong Kong: “ANZ has a very strong heritage in commercial banking, and we’ll provide a relationship-led service for our new commercial clients, backed by our institutional product range and network across more than 30 countries globally.”
ANZ has re-branded the former RBS Hong Kong branches and brought customers and staff across to ANZ with minimal disruption. Former RBS customers retain their existing relationship managers and can continue to access branches, ATMs and internet banking facilities as usual.
Hong Kong is the third of six markets to transition to ANZ ownership after the RBS acquisition was completed in the Philippines and Vietnam in late 2009. ANZ is acquiring the RBS retail and commercial businesses in Taiwan, Singapore, Indonesia and Hong Kong, and the institutional businesses in Taiwan, the Philippines and Vietnam.
Further information about ANZ’s services in Hong Kong, including ANZ Signature Priority Banking, is available on www.anz.com/hongkong