ANZ Banking Group is considering a complete divestment of its wealth and life insurance units for up to $6bn. The development comes as the bank attempts to move towards a simplified approach, selling its online broking arm and a range of minority stakes throughout Asia. ANZ is reportedly not seeking to maintain any minority shares of the units and, instead, will seek a clean break from its wealth management arm after finalising its review in last month.
ANZ Banking Group is considering a complete divestment of its wealth and life insurance units for up to $6bn. The development comes as the bank attempts to move towards a simplified approach, selling its online broking arm and a range of minority stakes throughout Asia. ANZ is reportedly not seeking to maintain any minority shares of the units and, instead, will seek a clean break from its wealth management arm after finalising its review in August.