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Wikipedia

ANZ (bank)

March 29, 2023

The Australia and New Zealand Banking Group Limited (ANZ) is an Australian multinational banking and financial services company headquartered in Melbourne, Victoria. It is Australia's second-largest bank by assets and fourth-largest bank by market capitalisation.[2]

Australia and New Zealand Banking Group Limited
Headquarters at 833 Collins Street
TypePrivate
Industry
PredecessorBank of Australasia
Union Bank of Australia
ES&A Bank
Founded2 October 1951; 71 years ago (1951-10-02) (ANZ Bank)
16 January 1969; 54 years ago (1969-01-16) (ANZ Group)
1 October 1970; 52 years ago (1970-10-01) (ANZ Group Merger)
Headquarters833 Collins Street
Melbourne, Victoria,
Australia
Area served
Worldwide
Key people
ProductsFinance and insurance, consumer banking, corporate banking, private banking, investment banking, investment management, global wealth management, private equity, mortgages, credit cards
A$19.43 billion (2022)[1]
A$7.12 billion (2022)[1]
Total assets A$1.09 trillion (2022)[1]
Total equity A$66.40 billion (2022)[1]
Number of employees
39,196 (2022)[1]
Subsidiaries
Websitewww.anz.com

Its current corporate entity was established on 1 October 1970, when the Australia and New Zealand Bank (ANZ) merged with the English, Scottish & Australian Bank (ES&A).[3] It was the largest bank merger in Australian history at the time.[3][4] The Australia and New Zealand Bank had in turn been founded in 1951 as a merger of the Bank of Australasia and the Union Bank of Australia, which were established in 1835 and 1837 respectively. ANZ is one of the Big Four Australian banks, along with the Commonwealth Bank, NAB and Westpac.

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 in 2003 and changed to ANZ Bank New Zealand 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.[5] In addition to operations throughout Australia and New Zealand, ANZ also operates in 34 other countries.[6]

ANZ together with its subsidiaries has a workforce of 51,000 employees and serves around nine million customers worldwide.[7]

History

19th century

 
English, Scottish and Australian Bank branch in Sydney, New South Wales in 1872

The Bank of Australasia was founded in London in 1835. It combined with the Cornwall Bank, which was formed in Launceston, Van Diemens Land in 1828.[8] In 1837, Union Bank of Australia was established in London by a group of people including George Fife Angas, a banker and slaveholder.[9][10][11] In 1852, The English, Scottish and Australian Bank (ES&A) established in London, and opened its first Australian branch in Sydney in 1853. The ES&A bank took over the Commercial Bank of Tasmania and the London Bank of Australia in 1921 and the Royal Bank of Australia in 1927.

20th century

 
Seal of the Australia and New Zealand Bank, 1951–1970.

In 1951, the Bank of Australasia merged with Union Bank of Australia to form the Australia and New Zealand Bank (ANZ Bank).[12] In 1963, the first computer systems established in new data processing centre in Melbourne, Australia. In 1966, ANZ began operations in Honiara, Solomon Islands. In 1968, ANZ opened an office in New York, USA. In 1969, ANZ established a representative office in Tokyo, Japan.

On 1 October 1970, ANZ merged with the English, Scottish and Australian Bank to form the present organisation, Australia and New Zealand Banking Group.[13] That same year, the bank began operating in Vanuatu. In 1976, ANZ (PNG) was established. In 1977, ANZ transferred its incorporation from the UK to Australia. In 1979, ANZ acquired the Bank of Adelaide.

In 1980, the Singapore and New York representative offices upgraded to branch status. In 1984, ANZ purchased Grindlays Bank.[14][15] In 1985, ANZ acquired Barclays’ operations in Fiji and Vanuatu. That same year, the bank received a full commercial banking licence and opened a branch in Frankfurt, Germany, and announced ANZ Singapore. In 1988, ANZ opened branches in Rarotonga, Cook Islands and Paris, France. In 1989, ANZ purchased PostBank from New Zealand Government.[16]

During the 1990s, the Australia and New Zealand Banking Group acquired several banks. In 1990, this included National Mutual Royal Bank in March[17] and the Town and Country Building Society in Western Australia in July.[18] That same year, ANZ purchased Lloyd Bank's operations in Papua New Guinea[19] and the Bank of New Zealand's operations in Fiji.[20]

In 1993, ANZ established new headquarters in Melbourne, Australia.[21] They also opened new branches in Hanoi, Vietnam,[22] and Shanghai, China,[23] and began a joint venture with PT Panin Bank in Indonesia.[24] That year they also began operating in Tonga[20] and sold their Canadian operations acquired via the purchase of Grindlays Bank in 1984 to HSBC Bank Canada.

Throughout the late 1990s, ANZ opened new branches in several locations, including Manila, Philippines,[25] and Ho Chi Minh City, Vietnam.[26] In 1997, John McFarlane was appointed Chief Executive Officer[27] and the bank opened its Beijing branch.[28] In 1999, ANZ formed a strategic alliance with E*Trade Australia for online share trading[29] and purchased Amerika Samoa Bank.[30]

21st century

In 2000, ANZ sold its Grindlays businesses in the Middle East and South Asia, and associated Grindlays Private Banking business to Standard Chartered.[31] In 2001, ANZ opened branches in Timor Leste[32] and began offering credit card services in Hong Kong.[33] In 2002, ANZ formed a joint venture with ING Group for wealth management and life insurance business in Australia and New Zealand.[34] The next year, ANZ acquired the National Bank of New Zealand.[35]

In 2005, ANZ established the ANZ Royal Bank in Cambodia, a joint venture with the Cambodian-based Royal Group company.[36][37] In 2006, ANZ announced a new world headquarters in the Melbourne Docklands[38] and invested in the Bank of Tianjin, China.[39] In 2007, ANZ acquired E*Trade Australia and Citizen Securities Bank in Guam.[40][41] Also in 2007, Mike Smith, formerly of HSBC, became CEO after the retirement of John McFarlane in October[42] and the company took over the naming rights sponsorship for Sydney's Stadium Australia.[43]

In August 2009, ANZ purchased the Royal Bank of Scotland's (RBS) operations in six Asian countries for $550 million.[44] In September the company announced it would buy out ING Group's 51% stake of the joint venture, giving ANZ 100% control of ING Australia.[44] In November, ANZ opened their new headquarters in Melbourne.[citation needed]

In 2010, ANZ acquired the RBS' interests in Hong Kong, Taiwan, Singapore and Indonesia.[45][46][47] That year ANZ also expanded its stake in the Bank of Tianjin.[39] In November, ING Australia was renamed OnePath.[48]

In 2012, ANZ announced the retirement of the National Bank brand in New Zealand.[5] In 2013, ANZ became the first bank to reopen in the Christchurch CBD following the 2011 earthquakes.[49]

In 2016, Shayne Elliott became CEO.[50] In April ANZ partnered with Apple to bring Apple Pay to its customers.[51][52] In 2017, ANZ acquired REALas property price predictor start-up.[53][54]

In 2018, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry heard that ANZ had failed to accurately verify the living expenses of home loan customers referred to the bank by mortgage brokers, believing that this was the responsibility of the brokers, in spite of a conflict of interest in doing so;[55]: 465–469 [56] and that, due to processing issues, it had charged nearly 500,000 home loan customers the incorrect interest rate for more than ten years, leading the bank to overcharge customers by approximately $90 million.[57][58][59]: 662 [60]: 707 

Bloomberg Intelligence estimated in May 2020 that ANZ's surplus capital was A$3.4 billion (US$2.4 billion), with ANZ CEO Shayne Elliott telling Bloomberg that the bank was "sitting on" the excess while it considered market trends.[61]

In February 2020, the Federal Court of Australia fined ANZ AUD10 million for charging customers fees between 2003 and 2015 that it was not entitled to, equating to profits of around AUD3.1 million. The regulator said around 69,000 customers had been affected.[62] For the year ending September 2020, ANZ posted a yearly profit of A$3.58 billion (US$2.53 billion), a decline of 40% from the A$6 billion in 2019, with the bank attributing the drop to the Covid-19 pandemic and "full year credit impairment charges" of A$2.74 billion as a result.[63]

After tensions between China and Australia resulted in China imposing trade curbs on imports from Australia in October 2020, the CEO of ANZ stated to CNBC that the company was also "looking for opportunities" in other Asian countries beyond China as well.[64] It was reported in March 2021 that ANZ was planning to cut its workforce in China by half, and shift the positions elsewhere.[65][66] In November 2021, Reuters reported that ANZ was being sued by a law firm in a class action lawsuit for unfair contract terms, after ANZ allegedly charged interest on customer purchases that had been repaid on time. The lawsuit focused on charges levied prior to January 2019, when an Australian law outlawing charging retrospective interest had been implemented.[67] In December 2021, ANZ pled guilty in a case filed by the Australian Securities & Investments Commission to breaching its obligations as a financial services and credit licensee provider, and not fully disbursing benefits to 500,000 customers. An A$25 million penalty was proposed.[68]

ANZ said it was combining its digital division and its Australian retail business in February 2022.[69] In April 2022, ANZ was involved in a joint venture with Scentre Group, Westpac, IBM and the Commonwealth Bank named Lygon, a blockchain startup.[70] In July 2022, ANZ agreed to terms with Suncorp to purchase Suncorp Bank for A$5 billion. The deal, which is subject to regulatory approval, is expected to take over 12 months to complete.[71]

Executive leadership

Chief Executives

The following individuals have been appointed to serve as chief executive:

Australia and New Zealand Bank Limited, 1951–1970

# Name Term start Term end Ref
1 Aubrey Roy Liddon Wiltshire CMG DSO MC General Manager 2 October 1951 (1951-10-02) 30 June 1954 (1954-06-30) [72][73][74]
W. H. Thomas 31 March 1952 (1952-03-31) [75][76]
2 Walter Ward Riddington 1 April 1952 (1952-04-01) 21 January 1954 (1954-01-21) [75][72][77]
3 Hugh Williamson CBE 1 July 1954 (1954-07-01) 30 June 1961 (1961-06-30) [78][79][80]
4 Sir Roger Darvall CBE 1 July 1961 (1961-07-01) 31 August 1967 (1967-08-31) [81][82][83]
5 Charles Rennie CBE 1 September 1967 (1967-09-01) 1 October 1970 (1970-10-01) [82]

Australia and New Zealand Banking Group, since 1970

# Name Title Term start Term end Ref
1 Harry McEwin Scambler CBE Managing Director 1 October 1970 (1970-10-01) 31 March 1973 (1973-03-31) [84][85][86]
2 Charles Rennie CBE 31 March 1973 (1973-03-31) 31 March 1976 (1976-03-31) [87]
3 Mac Brunckhorst AO 1 April 1976 (1976-04-01) 31 October 1980 (1980-10-31) [88][89]
4 John Milne 1 November 1980 (1980-11-01) 12 November 1984 (1984-11-12) [89][90][91]
5 Will Bailey AO 19 November 1984 (1984-11-19) 15 August 1988 (1988-08-15) [91][92]
Chief Executive Officer 15 August 1988 (1988-08-15) 30 September 1992 (1992-09-30)
6 Don Mercer 1 October 1992 (1992-10-01) 30 September 1997 (1997-09-30) [93][94]
7 John McFarlane OBE 1 October 1997 (1997-10-01) 30 September 2007 (2007-09-30) [94]
8 Mike Smith OBE 1 October 2007 (2007-10-01) 31 December 2015 (2015-12-31) [95][96][97]
9 Shayne Elliott 1 January 2016 (2016-01-01) Incumbent [96][97]

Chairs of the Board

The following individuals have been appointed to serve as chairman of the board:

Australia and New Zealand Bank Limited, 1951–1969

# Name Term start Term end Ref
1 Sir Geoffrey Gibbs KCMG 2 October 1951 (1951-10-02) 1 October 1967 (1967-10-01) [98][99][100]
2 Lord Carrington KCMG MC 1 October 1967 (1967-10-01) 16 January 1969 (1969-01-16) [101][102]

Australia and New Zealand Banking Group, since 1969

# Name Term start Term end Ref
1 Lord Carrington KCMG MC 16 January 1969 (1969-01-16) 22 June 1970 (1970-06-22) [84][103]
2 Sir Alexander Ross 22 June 1970 (1970-06-22) 21 January 1975 (1975-01-21) [85][104][105]
3 Angus Mackinnon DSO MC TD 21 January 1975 (1975-01-21) 30 September 1977 (1977-09-30) [106]
4 Sir Ian McLennan KCMG KBE 1 October 1977 (1977-10-01) 18 January 1982 (1982-01-18) [107][108]
5 Sir William Vines AC CMG 18 January 1982 (1982-01-18) 23 January 1989 (1989-01-23) [108]
6 Milton Deane Bridgland AO 23 January 1989 (1989-01-23) July 1992 (1992-07) [92][93]
7 John Bernard Gough AO OBE July 1992 (1992-07) August 1995 (1995-08) [93][109]
8 Charles Goode AC August 1995 (1995-08) 1 March 2010 (2010-03-01) [109][110]
9 John Morschel 1 March 2010 (2010-03-01) 30 April 2014 (2014-04-30) [111][112][113]
10 David Gonski AC 1 May 2014 (2014-05-01) 28 October 2020 (2020-10-28) [113][114]
11 Paul O'Sullivan 28 October 2020 (2020-10-28) Incumbent [114]

Organisational structure

Operations

Personal banking

Personal banking is one of the largest divisions within ANZ. It provides financial services including banking and lending products to the general public. ANZ serves around six million customers at over 570 branches in Australia.[7]

ANZ was the first bank in Australia to offer Apple Pay to its customers.[115]

Institutional banking

ANZ is the largest institutional bank in Australia.[116] It provides financial services to institutional and corporate customers in Australia and the Asia-Pacific. As of 2019, ANZ has around 7,000 institutional and corporate customers, with a total lending of A$165 billion.[117]

ANZ is committed to sustainable finance for institutional customers transitioning to a low-carbon economy. As of 2021, ANZ has concluded around A$22 billion worth of sustainable finance transactions.[116] In June 2021, ANZ closed Australia's first sustainability-linked bond (SLB) in the domestic debt market.[118] In August 2021, ANZ launched sustainability-linked derivatives (SLD) in Australia, Hong Kong, Singapore and Japan.[118]

Asia-Pacific

 
ANZ branch in Wellington, New Zealand

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 Nations 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 by 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 2009, 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.

As of September 2012, the company had a total of 1,337 branches worldwide.[119]

In 2016, ANZ adopted less aggressive approach to expansion in the Asia-Pacific region after low returns.[120][121][122] At the end of October 2016 ANZ announced the sale of its Asian retail and wealth management operations to the Development Bank of Singapore; ANZ also signalled a withdrawal from its "Asian pivot".[123]

In 2020, as tensions between the US and China escalated, CEO Shayne Elliot acknowledged that the conflict had “raised the risk profile” of the bank's China investments, and said that the bank could further pull back from the country.[124]

Offices

In September 2006, plans were unveiled for ANZ's 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 complex enables 6,500 ANZ staff to work in one integrated area. The building, located at 833 Collins Street, is the largest office complex in Australia at 84,500 square metres (910,000 sq ft) net lettable area, with 130,000 square metres (1,400,000 sq ft) gross floor area, and an accredited Six-Green Star Building. Construction commenced in late 2006 and the building opened in late 2009. Designed by HASSELL and Lend Lease Design, the building faces the Yarra River.[citation needed] In 2006, it was expected that it would cost A$478 million to build the new headquarters,[125] however costed A$750 million by the time it was complete in 2009.[126] The building was one of the winners at the 2010 World Architecture Festival in the category "Interiors and Fit Out of the Year".[127]

In 2016 ANZ announced that it would sell its former Melbourne global headquarters, located at the junction of 100 Queen Street, and 380 Collins Street, Melbourne, called Verdon Chambers and more commonly known as the Gothic Bank.[128] The former bank building was purpose built as the head office of the English, Scottish & Australian Bank (a predecessor of the current ANZ Banking Group).[128] The building was acquired in December 2016 by The GPT Group for A$275.4 million.[129]

The ANZ Bank Centre in Sydney includes ANZ as its major tenant. The office building was designed by Francis-Jones Morehen Thorp and was completed in April 2013.[130]

Marketing

Advertising

 
ANZ formerly held naming rights to Stadium Australia where it was known as ANZ Stadium

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.[131] In 2010, ANZ spent $195 million in Australia on advertising.[132] In 2011, a series of ads were fronted by Simon Baker, the star of the American television show The Mentalist. According to a 2014 top 20 list of advertising spends, ANZ was in the top 20.[133] In 2016, ANZ New Zealand had the highest spend of any bank.[132] One third of ANZ's spend on media is said to be digital.[134]

Sponsorship

In 2014, ANZ renewed its sponsorship with the Australian Open for a further five years.[135] In 2015, ANZ held a campaign in sync with the Sydney Gay and Lesbian Mardi Gras.[136]

Symbols

Logos

ANZ has had a number of different logos throughout its history. Its current logo was designed by M&C Saatchi, and was introduced in 2009 to coincide with ANZ's ambition to be a major regional bank in the Asia-Pacific.[137] The 2009 logo introduces a stylised three-petaled lotus which represents the trinity of Australia, New Zealand and Asia; the three core markets of ANZ.[137]

  •  

    2001–2009

  •  

    2009–present

Coat of arms

Coat of arms of ANZ
 
Notes
The arms of the Australia and New Zealand Banking Group consist of:[138]
Crest
Upon a helm with a wreath of the colours an antelope and a unicorn both armed and crined Or and gorged with a collar Gules supporting saltirewise a key Gold and a sword Proper quillons hilt and pommel Gold.
Escutcheon
Per pale Azure and Or a pile couped and per pale its point on a mound issuing in base also per pale eight roundels and as many billets in circle all counterchanged.
Supporters
On the dexter side a kangaroo Or and on the sinister side a kiwi Azure beaked and legged Gold.
Compartment
Desert and grass proper.
Motto
TENACIOUS OF PURPOSE
Symbolism
The shield is divided in the centre in an allusion to the Bank's principal operations in Australia and New Zealand. This reference is repeated by the supporters of the shield (Kiwi representing NZ; Kangaroo representing Australia). The supporters stand on field of grass and desert, a reference to the pastoral, mineral and other industries served by the bank. The balanced triangular figure (the 'pile') in the shield denotes the importance of maintaining the confidence of the public, depositors and shareholders in banking. Its circular design of bezants and billets symbolise coins, notes, cheques and other paper which circulate through the banking system. The crest symbolises the defence of depositors', customers' and shareholders' interests and security. The crest is placed on the traditional wreath and helm of a corporation.[139]

Controversies

Manipulation of benchmark interest rates and other key metrics

In 2016, ANZ and 10 of its traders were named as being the subject of legal proceedings for manipulation of the benchmark inter-bank interest rates in Australia; specifically ASIC has made claims of unconscionable conduct and manipulation against ANZ.[140][141][142] ANZ has attempted to deny the claims and says it will defend the claim in court.[143] Formal filings of the originating process in this regards were made against ANZ on 4 March 2016.[144] Since that time ASIC has compounded their claim against the ANZ.[145] In a separate court appearance in November 2016 ANZ admitted to 10 instances of attempted cartel conduct regarding alleged manipulation of the Malaysian ringgit.[146] The wider market rigging case has been reported as likely lasting into 2018.[147]

Agriculture and child labour

ANZ has been the subject of claims that it has backed agriculture and timber companies that engage in so called 'land grabs'.[148][149] In 2014, ANZ faced allegations that it funded a Cambodian sugar plantation that has involved child labour, military-backed land grabs, forced evictions and food shortages.[150][151] In February 2020, ANZ reached a compensation deal to around 1,000 Cambodian families in a land dispute related to a sugar company that ANZ funded, agreeing to pay "the profit it earned from the loan to the affected communities" of an undisclosed amount.[152]

Litigious approach

ANZ has also been criticised in the Senate for its allegedly "hard boiled" approach to farmers exposed to the fallout from ANZ's purchase of the Landmark loan book.[153][154] One submission to the Senate inquiry into bank conduct mentioned one farmer self-immolating after alleged defaults occurring.[155] Another former customer in the Senate inquiry was mentioned as being subjected to victimisation by receivers and police, including use of SWAT teams and being held at gun-point.[155] In 2016 it was reported that ANZ was accused of racism in a high-profile court case involving the businessman Pankaj Oswal and his wife;[156] specifically it was reported that an email contained comments stating that, "We are dealing with Indians with no moral compass and an Indian woman [the wife of Mr. Oswal], as every bit as devious as PO (Pankaj Oswal)," and "This has been a very Indian characteristic transaction."[156][157] The ANZ agreed to a settlement for an undisclosed amount in respect of the legal claim made by the Oswals.[158]

Culture

ANZ CEO Shayne Elliott admitted in 2016 that "culture" will be one of the biggest challenges for ANZ.[159] Media reports have included allegations of sexism, drug use and bravado culture.[160] In 2016, ANZ was pursued in court over its suggesting on social media that criticism of the bank's chief financial officer might have been sexist, which resulted in the broker at Bell Potter losing his job.[161][162] Former ANZ director John Dahlsen in 2016 admitted that there are issues with bank culture and competition.[163] In November 2016, there were further claims of sexist conduct and a separate lawsuit was filed against ANZ in the United States regarding staff at its New York office.[164][165]

Malaysian scandal

In early 2016, ANZ was also mentioned in a scandal in Malaysia involving one of ANZ's subsidiaries and the Malaysian leader.[166] The incident has raised questions for ANZ.[167] ANZ admitted in November 2016 that it had little ability to control its affiliate.[168]

Misleading file notes presented to Victorian Supreme Court

In 2016, there was an incident reported involving the Financial Ombudsman Service (Australia), where the Financial Ombudsman Service presented misleading file notes to the Supreme Court of Victoria, in the discovery phase of a case involving ANZ, to the benefit of ANZ's case.[169][170][171] The ANZ has not commented on the scandal as yet.

Out-sourcing of jobs

ANZ has continued to out-source jobs in countries other than Australia and this has caused some controversy with some outlets.[172] 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.[173] 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.[174] In 2012, ANZ transferred 360 permanent staff from Melbourne and Bangalore to Capgemini. All these staff worked in the Technology Testing and Environment Space.[citation needed] As ANZ CIO Anne announced earlier that ANZ want a Hybrid model of technology in order to achieve the 2017 Technology roadmap.

Anti-competitive conduct

Despite the ANZ taking advantage of block-chain technology[175] the ANZ had blocked businesses making use of Bitcoin. The ANZ and others were investigated by the Australian Competition and Consumer Commission and cleared of colluding with other banks on the issue of Bitcoin based business.[176]

Alleged discrimination

In September 2020, ANZ was accused of discrimination by Australian cryptocurrency exchanger Allan Flynn before the ACT Civil and Administrative Tribunal. The dispute is the first human rights action brought by a Bitcoin trader against a bank alleging discrimination on the basis of Flynn's "profession, trade, occupation, or calling" in violation of the Australian Capital Territory's anti-discrimination legislation.[177] Flynn alleges ANZ denied him banking services on the basis of his occupation as a cryptocurrency exchanger by closing his and his brother's bank accounts and contacting another bank about his Bitcoin trading, allegedly causing the other bank to similarly deny him service.[178] Interlocutory orders were made by the Tribunal in June 2021.[179] The matter between Flynn and the bank was settled in October 2021 with ANZ admitting in a statement that had de-banked Flynn because he operated Bitcoin trading service, and that it could (subject to their defences) amount to discrimination, but that they believed doing so was necessary to mitigate exposure to regulatory risk.[180] Flynn maintains, despite the settlement requiring him to withdraw the action, that ANZ's actions were unlawful.[181]

Panama Papers

ANZ was reported as appearing in 7,548 of the Mossack Fonseca documents in the Panama Papers, reflecting the bank's extensive work in New Zealand, the Cook Islands, Samoa and Jersey.[182]

Criminal cartel charges

On 1 June 2018, the Australian Competition and Consumer Commission (ACCC) announced that criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ Bank, its Group Treasurer Rick Moscati, along with Deutsche Bank, Citigroup and a number of individuals.[183][184] The charges concern a $2.5 billion ANZ capital raising that took place in August 2015.[185] In July 2020 committal proceedings were completed in the case,[186] which may last into 2022.[185]

Hayne Royal Commission

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, also known as the Hayne Royal Commission, was a Royal Commission established on 14 December 2017 by the Australian Government to inquire into and report on misconduct in the banking, superannuation, and financial services industry. The establishment of the commission followed revelations in the media of a culture of greed within several Australian financial institutions.[187] A subsequent parliamentary inquiry recommended a royal commission, noting the lack of regulatory intervention by the relevant government authorities,[188] and later revelations that financial institutions were involved in money laundering for drug syndicates, turned a blind eye to terrorism financing, and ignored statutory reporting responsibilities[189] and impropriety in foreign exchange trading.[190]

ANZ was also implicated in the bank bill swap rate scandal[191] and settled with ASIC prior to the commencement of legal proceedings.[192]

Defamation case

In July 2020 Bogac Ozdemir, a former employee of ANZ, filed a civil action against the bank at a New York court. Ozdemir claims that statements made by the bank about him were defamatory, and is seeking damages of US$20 million.[193]

Document Dumping

In 2023, confidential banking documents were found in a bin close to the ANZ branch in Armadale. The documents included names, addresses, and account numbers of customers with the branch.[194]

See also

References

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External links

 
Wikimedia Commons has media related to Australia and New Zealand Banking Group.
  • Official website

March 29, 2023
bank, australia, zealand, banking, group, limited, australian, multinational, banking, financial, services, company, headquartered, melbourne, victoria, australia, second, largest, bank, assets, fourth, largest, bank, market, capitalisation, australia, zealand. The Australia and New Zealand Banking Group Limited ANZ is an Australian multinational banking and financial services company headquartered in Melbourne Victoria It is Australia s second largest bank by assets and fourth largest bank by market capitalisation 2 Australia and New Zealand Banking Group LimitedHeadquarters at 833 Collins StreetTypePrivateTraded asASX ANZNZX ANZS amp P ASX 200 componentIndustryBankingFinancial servicesPredecessorBank of AustralasiaUnion Bank of AustraliaES amp A BankFounded2 October 1951 71 years ago 1951 10 02 ANZ Bank 16 January 1969 54 years ago 1969 01 16 ANZ Group 1 October 1970 52 years ago 1970 10 01 ANZ Group Merger Headquarters833 Collins StreetMelbourne Victoria AustraliaArea servedWorldwideKey peoplePaul O Sullivan Chairman Shayne Elliott CEO ProductsFinance and insurance consumer banking corporate banking private banking investment banking investment management global wealth management private equity mortgages credit cardsOperating incomeA 19 43 billion 2022 1 Net incomeA 7 12 billion 2022 1 Total assetsA 1 09 trillion 2022 1 Total equityA 66 40 billion 2022 1 Number of employees39 196 2022 1 SubsidiariesANZ Bank New ZealandWebsitewww wbr anz wbr comIts current corporate entity was established on 1 October 1970 when the Australia and New Zealand Bank ANZ merged with the English Scottish amp Australian Bank ES amp A 3 It was the largest bank merger in Australian history at the time 3 4 The Australia and New Zealand Bank had in turn been founded in 1951 as a merger of the Bank of Australasia and the Union Bank of Australia which were established in 1835 and 1837 respectively ANZ is one of the Big Four Australian banks along with the Commonwealth Bank NAB and Westpac 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 in 2003 and changed to ANZ Bank New Zealand 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 5 In addition to operations throughout Australia and New Zealand ANZ also operates in 34 other countries 6 ANZ together with its subsidiaries has a workforce of 51 000 employees and serves around nine million customers worldwide 7 Contents 1 History 1 1 19th century 1 2 20th century 1 3 21st century 2 Executive leadership 2 1 Chief Executives 2 1 1 Australia and New Zealand Bank Limited 1951 1970 2 1 2 Australia and New Zealand Banking Group since 1970 2 2 Chairs of the Board 2 2 1 Australia and New Zealand Bank Limited 1951 1969 2 2 2 Australia and New Zealand Banking Group since 1969 3 Organisational structure 4 Operations 4 1 Personal banking 4 2 Institutional banking 4 3 Asia Pacific 4 4 Offices 5 Marketing 5 1 Advertising 5 2 Sponsorship 6 Symbols 6 1 Logos 6 2 Coat of arms 7 Controversies 7 1 Manipulation of benchmark interest rates and other key metrics 7 2 Agriculture and child labour 7 3 Litigious approach 7 4 Culture 7 5 Malaysian scandal 7 6 Misleading file notes presented to Victorian Supreme Court 7 7 Out sourcing of jobs 7 8 Anti competitive conduct 7 9 Alleged discrimination 7 10 Panama Papers 7 11 Criminal cartel charges 7 12 Hayne Royal Commission 7 13 Defamation case 7 14 Document Dumping 8 See also 9 References 10 External linksHistory Edit19th century Edit English Scottish and Australian Bank branch in Sydney New South Wales in 1872 The Bank of Australasia was founded in London in 1835 It combined with the Cornwall Bank which was formed in Launceston Van Diemens Land in 1828 8 In 1837 Union Bank of Australia was established in London by a group of people including George Fife Angas a banker and slaveholder 9 10 11 In 1852 The English Scottish and Australian Bank ES amp A established in London and opened its first Australian branch in Sydney in 1853 The ES amp A bank took over the Commercial Bank of Tasmania and the London Bank of Australia in 1921 and the Royal Bank of Australia in 1927 20th century Edit Seal of the Australia and New Zealand Bank 1951 1970 In 1951 the Bank of Australasia merged with Union Bank of Australia to form the Australia and New Zealand Bank ANZ Bank 12 In 1963 the first computer systems established in new data processing centre in Melbourne Australia In 1966 ANZ began operations in Honiara Solomon Islands In 1968 ANZ opened an office in New York USA In 1969 ANZ established a representative office in Tokyo Japan On 1 October 1970 ANZ merged with the English Scottish and Australian Bank to form the present organisation Australia and New Zealand Banking Group 13 That same year the bank began operating in Vanuatu In 1976 ANZ PNG was established In 1977 ANZ transferred its incorporation from the UK to Australia In 1979 ANZ acquired the Bank of Adelaide In 1980 the Singapore and New York representative offices upgraded to branch status In 1984 ANZ purchased Grindlays Bank 14 15 In 1985 ANZ acquired Barclays operations in Fiji and Vanuatu That same year the bank received a full commercial banking licence and opened a branch in Frankfurt Germany and announced ANZ Singapore In 1988 ANZ opened branches in Rarotonga Cook Islands and Paris France In 1989 ANZ purchased PostBank from New Zealand Government 16 During the 1990s the Australia and New Zealand Banking Group acquired several banks In 1990 this included National Mutual Royal Bank in March 17 and the Town and Country Building Society in Western Australia in July 18 That same year ANZ purchased Lloyd Bank s operations in Papua New Guinea 19 and the Bank of New Zealand s operations in Fiji 20 In 1993 ANZ established new headquarters in Melbourne Australia 21 They also opened new branches in Hanoi Vietnam 22 and Shanghai China 23 and began a joint venture with PT Panin Bank in Indonesia 24 That year they also began operating in Tonga 20 and sold their Canadian operations acquired via the purchase of Grindlays Bank in 1984 to HSBC Bank Canada Throughout the late 1990s ANZ opened new branches in several locations including Manila Philippines 25 and Ho Chi Minh City Vietnam 26 In 1997 John McFarlane was appointed Chief Executive Officer 27 and the bank opened its Beijing branch 28 In 1999 ANZ formed a strategic alliance with E Trade Australia for online share trading 29 and purchased Amerika Samoa Bank 30 21st century Edit In 2000 ANZ sold its Grindlays businesses in the Middle East and South Asia and associated Grindlays Private Banking business to Standard Chartered 31 In 2001 ANZ opened branches in Timor Leste 32 and began offering credit card services in Hong Kong 33 In 2002 ANZ formed a joint venture with ING Group for wealth management and life insurance business in Australia and New Zealand 34 The next year ANZ acquired the National Bank of New Zealand 35 In 2005 ANZ established the ANZ Royal Bank in Cambodia a joint venture with the Cambodian based Royal Group company 36 37 In 2006 ANZ announced a new world headquarters in the Melbourne Docklands 38 and invested in the Bank of Tianjin China 39 In 2007 ANZ acquired E Trade Australia and Citizen Securities Bank in Guam 40 41 Also in 2007 Mike Smith formerly of HSBC became CEO after the retirement of John McFarlane in October 42 and the company took over the naming rights sponsorship for Sydney s Stadium Australia 43 In August 2009 ANZ purchased the Royal Bank of Scotland s RBS operations in six Asian countries for 550 million 44 In September the company announced it would buy out ING Group s 51 stake of the joint venture giving ANZ 100 control of ING Australia 44 In November ANZ opened their new headquarters in Melbourne citation needed In 2010 ANZ acquired the RBS interests in Hong Kong Taiwan Singapore and Indonesia 45 46 47 That year ANZ also expanded its stake in the Bank of Tianjin 39 In November ING Australia was renamed OnePath 48 In 2012 ANZ announced the retirement of the National Bank brand in New Zealand 5 In 2013 ANZ became the first bank to reopen in the Christchurch CBD following the 2011 earthquakes 49 In 2016 Shayne Elliott became CEO 50 In April ANZ partnered with Apple to bring Apple Pay to its customers 51 52 In 2017 ANZ acquired REALas property price predictor start up 53 54 In 2018 the Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry heard that ANZ had failed to accurately verify the living expenses of home loan customers referred to the bank by mortgage brokers believing that this was the responsibility of the brokers in spite of a conflict of interest in doing so 55 465 469 56 and that due to processing issues it had charged nearly 500 000 home loan customers the incorrect interest rate for more than ten years leading the bank to overcharge customers by approximately 90 million 57 58 59 662 60 707 Bloomberg Intelligence estimated in May 2020 that ANZ s surplus capital was A 3 4 billion US 2 4 billion with ANZ CEO Shayne Elliott telling Bloomberg that the bank was sitting on the excess while it considered market trends 61 In February 2020 the Federal Court of Australia fined ANZ AUD10 million for charging customers fees between 2003 and 2015 that it was not entitled to equating to profits of around AUD3 1 million The regulator said around 69 000 customers had been affected 62 For the year ending September 2020 ANZ posted a yearly profit of A 3 58 billion US 2 53 billion a decline of 40 from the A 6 billion in 2019 with the bank attributing the drop to the Covid 19 pandemic and full year credit impairment charges of A 2 74 billion as a result 63 After tensions between China and Australia resulted in China imposing trade curbs on imports from Australia in October 2020 the CEO of ANZ stated to CNBC that the company was also looking for opportunities in other Asian countries beyond China as well 64 It was reported in March 2021 that ANZ was planning to cut its workforce in China by half and shift the positions elsewhere 65 66 In November 2021 Reuters reported that ANZ was being sued by a law firm in a class action lawsuit for unfair contract terms after ANZ allegedly charged interest on customer purchases that had been repaid on time The lawsuit focused on charges levied prior to January 2019 when an Australian law outlawing charging retrospective interest had been implemented 67 In December 2021 ANZ pled guilty in a case filed by the Australian Securities amp Investments Commission to breaching its obligations as a financial services and credit licensee provider and not fully disbursing benefits to 500 000 customers An A 25 million penalty was proposed 68 ANZ said it was combining its digital division and its Australian retail business in February 2022 69 In April 2022 ANZ was involved in a joint venture with Scentre Group Westpac IBM and the Commonwealth Bank named Lygon a blockchain startup 70 In July 2022 ANZ agreed to terms with Suncorp to purchase Suncorp Bank for A 5 billion The deal which is subject to regulatory approval is expected to take over 12 months to complete 71 Executive leadership EditChief Executives Edit The following individuals have been appointed to serve as chief executive Australia and New Zealand Bank Limited 1951 1970 Edit Name Term start Term end Ref1 Aubrey Roy Liddon Wiltshire CMG DSO MC General Manager 2 October 1951 1951 10 02 30 June 1954 1954 06 30 72 73 74 W H Thomas 31 March 1952 1952 03 31 75 76 2 Walter Ward Riddington 1 April 1952 1952 04 01 21 January 1954 1954 01 21 75 72 77 3 Hugh Williamson CBE 1 July 1954 1954 07 01 30 June 1961 1961 06 30 78 79 80 4 Sir Roger Darvall CBE 1 July 1961 1961 07 01 31 August 1967 1967 08 31 81 82 83 5 Charles Rennie CBE 1 September 1967 1967 09 01 1 October 1970 1970 10 01 82 Australia and New Zealand Banking Group since 1970 Edit Name Title Term start Term end Ref1 Harry McEwin Scambler CBE Managing Director 1 October 1970 1970 10 01 31 March 1973 1973 03 31 84 85 86 2 Charles Rennie CBE 31 March 1973 1973 03 31 31 March 1976 1976 03 31 87 3 Mac Brunckhorst AO 1 April 1976 1976 04 01 31 October 1980 1980 10 31 88 89 4 John Milne 1 November 1980 1980 11 01 12 November 1984 1984 11 12 89 90 91 5 Will Bailey AO 19 November 1984 1984 11 19 15 August 1988 1988 08 15 91 92 Chief Executive Officer 15 August 1988 1988 08 15 30 September 1992 1992 09 30 6 Don Mercer 1 October 1992 1992 10 01 30 September 1997 1997 09 30 93 94 7 John McFarlane OBE 1 October 1997 1997 10 01 30 September 2007 2007 09 30 94 8 Mike Smith OBE 1 October 2007 2007 10 01 31 December 2015 2015 12 31 95 96 97 9 Shayne Elliott 1 January 2016 2016 01 01 Incumbent 96 97 Chairs of the Board Edit The following individuals have been appointed to serve as chairman of the board Australia and New Zealand Bank Limited 1951 1969 Edit Name Term start Term end Ref1 Sir Geoffrey Gibbs KCMG 2 October 1951 1951 10 02 1 October 1967 1967 10 01 98 99 100 2 Lord Carrington KCMG MC 1 October 1967 1967 10 01 16 January 1969 1969 01 16 101 102 Australia and New Zealand Banking Group since 1969 Edit Name Term start Term end Ref1 Lord Carrington KCMG MC 16 January 1969 1969 01 16 22 June 1970 1970 06 22 84 103 2 Sir Alexander Ross 22 June 1970 1970 06 22 21 January 1975 1975 01 21 85 104 105 3 Angus Mackinnon DSO MC TD 21 January 1975 1975 01 21 30 September 1977 1977 09 30 106 4 Sir Ian McLennan KCMG KBE 1 October 1977 1977 10 01 18 January 1982 1982 01 18 107 108 5 Sir William Vines AC CMG 18 January 1982 1982 01 18 23 January 1989 1989 01 23 108 6 Milton Deane Bridgland AO 23 January 1989 1989 01 23 July 1992 1992 07 92 93 7 John Bernard Gough AO OBE July 1992 1992 07 August 1995 1995 08 93 109 8 Charles Goode AC August 1995 1995 08 1 March 2010 2010 03 01 109 110 9 John Morschel 1 March 2010 2010 03 01 30 April 2014 2014 04 30 111 112 113 10 David Gonski AC 1 May 2014 2014 05 01 28 October 2020 2020 10 28 113 114 11 Paul O Sullivan 28 October 2020 2020 10 28 Incumbent 114 Organisational structure EditAustralia Retail Products Retail Distribution Commercial Banking Wealth including ETrade in Australia and OnePath ANZ Bank New Zealand ANZ Bank Bonus Bonds Institutional Banking Institutional banking Corporate Finance Working Capital Corporate banking Economics ANZ Asia and Pacific ANZ Amerika Samoa Bank ANZ Fiji ANZ Royal Bank International PartnershipsOperations EditPersonal banking Edit Personal banking is one of the largest divisions within ANZ It provides financial services including banking and lending products to the general public ANZ serves around six million customers at over 570 branches in Australia 7 ANZ was the first bank in Australia to offer Apple Pay to its customers 115 Institutional banking Edit ANZ is the largest institutional bank in Australia 116 It provides financial services to institutional and corporate customers in Australia and the Asia Pacific As of 2019 ANZ has around 7 000 institutional and corporate customers with a total lending of A 165 billion 117 ANZ is committed to sustainable finance for institutional customers transitioning to a low carbon economy As of 2021 ANZ has concluded around A 22 billion worth of sustainable finance transactions 116 In June 2021 ANZ closed Australia s first sustainability linked bond SLB in the domestic debt market 118 In August 2021 ANZ launched sustainability linked derivatives SLD in Australia Hong Kong Singapore and Japan 118 Asia Pacific Edit ANZ branch in Wellington New Zealand 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 Nations 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 by 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 2009 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 As of September 2012 the company had a total of 1 337 branches worldwide 119 In 2016 ANZ adopted less aggressive approach to expansion in the Asia Pacific region after low returns 120 121 122 At the end of October 2016 ANZ announced the sale of its Asian retail and wealth management operations to the Development Bank of Singapore ANZ also signalled a withdrawal from its Asian pivot 123 In 2020 as tensions between the US and China escalated CEO Shayne Elliot acknowledged that the conflict had raised the risk profile of the bank s China investments and said that the bank could further pull back from the country 124 Offices Edit In September 2006 plans were unveiled for ANZ s 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 complex enables 6 500 ANZ staff to work in one integrated area The building located at 833 Collins Street is the largest office complex in Australia at 84 500 square metres 910 000 sq ft net lettable area with 130 000 square metres 1 400 000 sq ft gross floor area and an accredited Six Green Star Building Construction commenced in late 2006 and the building opened in late 2009 Designed by HASSELL and Lend Lease Design the building faces the Yarra River citation needed In 2006 it was expected that it would cost A 478 million to build the new headquarters 125 however costed A 750 million by the time it was complete in 2009 126 The building was one of the winners at the 2010 World Architecture Festival in the category Interiors and Fit Out of the Year 127 In 2016 ANZ announced that it would sell its former Melbourne global headquarters located at the junction of 100 Queen Street and 380 Collins Street Melbourne called Verdon Chambers and more commonly known as the Gothic Bank 128 The former bank building was purpose built as the head office of the English Scottish amp Australian Bank a predecessor of the current ANZ Banking Group 128 The building was acquired in December 2016 by The GPT Group for A 275 4 million 129 The ANZ Bank Centre in Sydney includes ANZ as its major tenant The office building was designed by Francis Jones Morehen Thorp and was completed in April 2013 130 Marketing EditAdvertising Edit ANZ formerly held naming rights to Stadium Australia where it was known as ANZ Stadium 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 131 In 2010 ANZ spent 195 million in Australia on advertising 132 In 2011 a series of ads were fronted by Simon Baker the star of the American television show The Mentalist According to a 2014 top 20 list of advertising spends ANZ was in the top 20 133 In 2016 ANZ New Zealand had the highest spend of any bank 132 One third of ANZ s spend on media is said to be digital 134 Sponsorship Edit In 2014 ANZ renewed its sponsorship with the Australian Open for a further five years 135 In 2015 ANZ held a campaign in sync with the Sydney Gay and Lesbian Mardi Gras 136 Symbols EditLogos Edit ANZ has had a number of different logos throughout its history Its current logo was designed by M amp C Saatchi and was introduced in 2009 to coincide with ANZ s ambition to be a major regional bank in the Asia Pacific 137 The 2009 logo introduces a stylised three petaled lotus which represents the trinity of Australia New Zealand and Asia the three core markets of ANZ 137 2001 2009 2009 presentCoat of arms Edit Coat of arms of ANZ Notes The arms of the Australia and New Zealand Banking Group consist of 138 Crest Upon a helm with a wreath of the colours an antelope and a unicorn both armed and crined Or and gorged with a collar Gules supporting saltirewise a key Gold and a sword Proper quillons hilt and pommel Gold Escutcheon Per pale Azure and Or a pile couped and per pale its point on a mound issuing in base also per pale eight roundels and as many billets in circle all counterchanged Supporters On the dexter side a kangaroo Or and on the sinister side a kiwi Azure beaked and legged Gold Compartment Desert and grass proper Motto TENACIOUS OF PURPOSE Symbolism The shield is divided in the centre in an allusion to the Bank s principal operations in Australia and New Zealand This reference is repeated by the supporters of the shield Kiwi representing NZ Kangaroo representing Australia The supporters stand on field of grass and desert a reference to the pastoral mineral and other industries served by the bank The balanced triangular figure the pile in the shield denotes the importance of maintaining the confidence of the public depositors and shareholders in banking Its circular design of bezants and billets symbolise coins notes cheques and other paper which circulate through the banking system The crest symbolises the defence of depositors customers and shareholders interests and security The crest is placed on the traditional wreath and helm of a corporation 139 Controversies EditManipulation of benchmark interest rates and other key metrics Edit In 2016 ANZ and 10 of its traders were named as being the subject of legal proceedings for manipulation of the benchmark inter bank interest rates in Australia specifically ASIC has made claims of unconscionable conduct and manipulation against ANZ 140 141 142 ANZ has attempted to deny the claims and says it will defend the claim in court 143 Formal filings of the originating process in this regards were made against ANZ on 4 March 2016 144 Since that time ASIC has compounded their claim against the ANZ 145 In a separate court appearance in November 2016 ANZ admitted to 10 instances of attempted cartel conduct regarding alleged manipulation of the Malaysian ringgit 146 The wider market rigging case has been reported as likely lasting into 2018 147 Agriculture and child labour Edit ANZ has been the subject of claims that it has backed agriculture and timber companies that engage in so called land grabs 148 149 In 2014 ANZ faced allegations that it funded a Cambodian sugar plantation that has involved child labour military backed land grabs forced evictions and food shortages 150 151 In February 2020 ANZ reached a compensation deal to around 1 000 Cambodian families in a land dispute related to a sugar company that ANZ funded agreeing to pay the profit it earned from the loan to the affected communities of an undisclosed amount 152 Litigious approach Edit ANZ has also been criticised in the Senate for its allegedly hard boiled approach to farmers exposed to the fallout from ANZ s purchase of the Landmark loan book 153 154 One submission to the Senate inquiry into bank conduct mentioned one farmer self immolating after alleged defaults occurring 155 Another former customer in the Senate inquiry was mentioned as being subjected to victimisation by receivers and police including use of SWAT teams and being held at gun point 155 In 2016 it was reported that ANZ was accused of racism in a high profile court case involving the businessman Pankaj Oswal and his wife 156 specifically it was reported that an email contained comments stating that We are dealing with Indians with no moral compass and an Indian woman the wife of Mr Oswal as every bit as devious as PO Pankaj Oswal and This has been a very Indian characteristic transaction 156 157 The ANZ agreed to a settlement for an undisclosed amount in respect of the legal claim made by the Oswals 158 Culture Edit ANZ CEO Shayne Elliott admitted in 2016 that culture will be one of the biggest challenges for ANZ 159 Media reports have included allegations of sexism drug use and bravado culture 160 In 2016 ANZ was pursued in court over its suggesting on social media that criticism of the bank s chief financial officer might have been sexist which resulted in the broker at Bell Potter losing his job 161 162 Former ANZ director John Dahlsen in 2016 admitted that there are issues with bank culture and competition 163 In November 2016 there were further claims of sexist conduct and a separate lawsuit was filed against ANZ in the United States regarding staff at its New York office 164 165 Malaysian scandal Edit In early 2016 ANZ was also mentioned in a scandal in Malaysia involving one of ANZ s subsidiaries and the Malaysian leader 166 The incident has raised questions for ANZ 167 ANZ admitted in November 2016 that it had little ability to control its affiliate 168 Misleading file notes presented to Victorian Supreme Court Edit In 2016 there was an incident reported involving the Financial Ombudsman Service Australia where the Financial Ombudsman Service presented misleading file notes to the Supreme Court of Victoria in the discovery phase of a case involving ANZ to the benefit of ANZ s case 169 170 171 The ANZ has not commented on the scandal as yet Out sourcing of jobs Edit ANZ has continued to out source jobs in countries other than Australia and this has caused some controversy with some outlets 172 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 173 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 174 In 2012 ANZ transferred 360 permanent staff from Melbourne and Bangalore to Capgemini All these staff worked in the Technology Testing and Environment Space citation needed As ANZ CIO Anne announced earlier that ANZ want a Hybrid model of technology in order to achieve the 2017 Technology roadmap Anti competitive conduct Edit Despite the ANZ taking advantage of block chain technology 175 the ANZ had blocked businesses making use of Bitcoin The ANZ and others were investigated by the Australian Competition and Consumer Commission and cleared of colluding with other banks on the issue of Bitcoin based business 176 Alleged discrimination Edit In September 2020 ANZ was accused of discrimination by Australian cryptocurrency exchanger Allan Flynn before the ACT Civil and Administrative Tribunal The dispute is the first human rights action brought by a Bitcoin trader against a bank alleging discrimination on the basis of Flynn s profession trade occupation or calling in violation of the Australian Capital Territory s anti discrimination legislation 177 Flynn alleges ANZ denied him banking services on the basis of his occupation as a cryptocurrency exchanger by closing his and his brother s bank accounts and contacting another bank about his Bitcoin trading allegedly causing the other bank to similarly deny him service 178 Interlocutory orders were made by the Tribunal in June 2021 179 The matter between Flynn and the bank was settled in October 2021 with ANZ admitting in a statement that had de banked Flynn because he operated Bitcoin trading service and that it could subject to their defences amount to discrimination but that they believed doing so was necessary to mitigate exposure to regulatory risk 180 Flynn maintains despite the settlement requiring him to withdraw the action that ANZ s actions were unlawful 181 Panama Papers Edit ANZ was reported as appearing in 7 548 of the Mossack Fonseca documents in the Panama Papers reflecting the bank s extensive work in New Zealand the Cook Islands Samoa and Jersey 182 Criminal cartel charges Edit On 1 June 2018 the Australian Competition and Consumer Commission ACCC announced that criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions CDPP against ANZ Bank its Group Treasurer Rick Moscati along with Deutsche Bank Citigroup and a number of individuals 183 184 The charges concern a 2 5 billion ANZ capital raising that took place in August 2015 185 In July 2020 committal proceedings were completed in the case 186 which may last into 2022 185 Hayne Royal Commission Edit The Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry also known as the Hayne Royal Commission was a Royal Commission established on 14 December 2017 by the Australian Government to inquire into and report on misconduct in the banking superannuation and financial services industry The establishment of the commission followed revelations in the media of a culture of greed within several Australian financial institutions 187 A subsequent parliamentary inquiry recommended a royal commission noting the lack of regulatory intervention by the relevant government authorities 188 and later revelations that financial institutions were involved in money laundering for drug syndicates turned a blind eye to terrorism financing and ignored statutory reporting responsibilities 189 and impropriety in foreign exchange trading 190 ANZ was also implicated in the bank bill swap rate scandal 191 and settled with ASIC prior to the commencement of legal proceedings 192 Defamation case Edit In July 2020 Bogac Ozdemir a former employee of ANZ filed a civil action against the bank at a New York court Ozdemir claims that statements made by the bank about him were defamatory and is seeking damages of US 20 million 193 Document Dumping Edit In 2023 confidential banking documents were found in a bin close to the ANZ branch in Armadale The documents included names addresses and account numbers of customers with the branch 194 See also Edit Companies portal Banks portalATM Industry Association ATMIA Banking in Australia List of banks List of banks in Australia List of banks in OceaniaReferences Edit a b c d e ANZ 2022 Annual Report PDF Australia and New Zealand Banking Group Limited Retrieved 5 November 2022 ASX 200 List Market Capitalisation Accurate on 1 October 2017 ASX 200 Australian Securities Exchange 26 October 2017 Retrieved 26 October 2017 a b 50 years as a brand 185 as a bank Australia and New Zealand Banking Group Limited Retrieved 8 November 2021 Faith in The Future South Coast Times and Wollongong Argus NSW National Library of Australia 8 February 1954 p 23 Supplement ROYAL VISIT SUPPLEMENT Retrieved 12 July 2014 a b ANZ still finalising National Bank closures 3news co nz 3 News NZ 10 October 2013 About ANZ Australia and New Zealand Banking Group Archived from the original on 1 February 2018 Retrieved 19 June 2017 a b ANZ 180 Years Australia and New Zealand Banking Group Retrieved 3 November 2019 Born Here The Examiner DAILY ed Launceston Tas 13 July 1935 p 8 Retrieved 12 July 2014 via National Library of Australia Fernandes C Island Off the Coast of Asia Instruments of statecraft in Australian foreign policy Melbourne Monash University Publishing 2018 13 14 Prospectus of the Union Bank of Australia About to be Established in Londone The Sydney Monitor 1 January 1838 p 2 Retrieved 14 February 2016 The New Bank The True Colonist 15 December 1837 p 6 Retrieved 14 February 2016 October first 1951 Australia and New Zealand Bank Limited in which are merged the Bank of Australasia and the Union Bank of Australia Limited Version details Trove trove nla gov au Retrieved 14 February 2016 1 October as merger date of ANZ and ES A The Canberra Times 11 September 1970 p 16 Retrieved 14 February 2016 Shareholders approve takeover of Grindlays The Canberra Times 3 August 1984 p 14 Retrieved 14 February 2016 ANZ goes international The Canberra Times 20 June 1985 p 20 Retrieved 14 February 2016 Business and investment ANZ picks up NZ bank for 494m The Canberra Times 22 December 1988 p 13 Retrieved 14 February 2016 ANZ NATIONAL MUTUAL CREATE 170BN GIANT Australian Financial Review 29 March 1990 Retrieved 11 May 2020 ANZ UNIT S HOME FOCUS Australian Financial Review 2 October 1991 Retrieved 11 May 2020 Oxford Business Group 17 September 2016 The Report Papua New Guinea 2015 Oxford Business Group p 56 ISBN 978 1 910068 36 6 a href Template Cite book html title Template Cite book cite book a last has generic name help a b Mou Freddy 17 December 2015 ANZ celebrates 135 years in Fiji and the Pacific Loop PNG Retrieved 11 May 2020 ANZ to sell its old Melbourne headquarters Commercial Real Estate 16 April 2019 Retrieved 11 May 2020 ANZ Vietnam unifies operations www vneconomictimes com Retrieved 11 May 2020 Young Victoria 22 November 2006 ANZ buys into Chinese bank Investor Daily permanent dead link UPDATE 1 Gunawan family to sell 1 4bln Bank Panin stake sources Reuters 19 May 2010 Retrieved 11 May 2020 ANZ opens Manila branch Australian Financial Review 3 October 1995 Retrieved 11 May 2020 Cornell Andrew 18 March 1996 ANZ plans a leading role in Vietnam Australian Financial Review Retrieved 11 May 2020 Ryan Peter 23 January 2020 Westpac picks John McFarlane as new chairman to deal with money laundering scandal ABC News Retrieved 21 February 2020 CNN com ANZ quits bid for Thai bank stake Jul 25 2003 CNN Retrieved 11 May 2020 ANZ makes takeover bid for E Trade Australia iTnews Retrieved 11 May 2020 FRB Press Release Approval of application of Australia amp New Zealand Banking Group Federal Reserve Board 7 August 2000 Retrieved 17 November 2011 Treanor Jill 28 April 2000 Standard Chartered snaps up Grindlays The Guardian ISSN 0261 3077 Retrieved 11 May 2020 Mou Freddy 17 December 2015 ANZ celebrates 135 years in Fiji and the Pacific Loop PNG Retrieved 28 February 2020 ANZ charges credit card market with low entry at platinum level South China Morning Post 2 April 2001 Retrieved 11 May 2020 ING To Sell Joint Venture To ANZ For Euro 1 1 Bln Update RTTNews Retrieved 11 May 2020 ANZ and ING expand joint venture to New Zealand NZ Herald 30 September 2005 ISSN 1170 0777 Retrieved 11 May 2020 Hunt Luke ANZ Sees Further Restructuring of ASEAN Businesses The Diplomat Retrieved 11 May 2020 ANZ to sell 55 stake in Cambodian bank to Japan s J Trust S amp P Global Retrieved 11 May 2020 ANZ to build Australia s biggest office building ABC News ABC News 27 September 2006 Retrieved 11 May 2020 a b ANZ invests A 126 million in Bank of Tianjin Scoop 15 November 2010 Retrieved 11 May 2020 Archived copy PDF Archived from the original PDF on 28 September 2007 Retrieved 30 August 2007 a href Template Cite web html title Template Cite web cite web a CS1 maint archived copy as title link ANZ acquires Guam bank for A31 8m The Sydney Morning Herald 20 February 2007 Retrieved 11 May 2020 ANZ Chairman announces successor to CEO Australia and New Zealand Banking Group 28 September 2011 Archived from the original on 28 September 2011 Retrieved 11 May 2020 Massoud Josh 11 December 2007 Telstra Stadium becomes ANZ The Daily Telegraph Retrieved 11 May 2020 a b Smith Peter 25 September 2009 ANZ to buy ING joint venture for 1 5bn Financial Times Retrieved 11 May 2020 ANZ acquires RBS Hong Kong businesses 9News 22 March 2010 Archived from the original on 5 June 2011 Retrieved 17 November 2011 ANZ acquires RBS in Singapore International Business Times 17 May 2010 Archived from the original on 3 October 2011 Retrieved 17 November 2011 ANZ completes RBS purchases in Indonesia Financial Review 14 June 2010 ANZ rebrands ING as OnePath The West Australian 5 August 2010 Retrieved 11 May 2020 ANZ opens in Christchurch rebuild zone 3 News NZ 10 October 2013 ANZ Management Board ANZ Shareholder Centre www shareholder anz com Archived from the original on 3 October 2014 Retrieved 21 January 2016 Apple ANZ Bank strike deal to bring Apple Pay to Australia Reuters 27 April 2016 Retrieved 28 April 2016 Apple Pay Apple AU Apple AU Retrieved 28 April 2016 ANZ makes push into real estate tech buying property start up REALas Financial Review 3 October 2017 Retrieved 10 November 2017 REALas could this be Australia s most accurate real estate price predictor Canstar Canstar 31 October 2017 Retrieved 10 November 2017 Transcript of Proceedings Day 8 transcript Auscript Australia Pty Limited Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry 19 March 2018 Archived from the original transcript on 10 April 2018 Retrieved 23 April 2018 Hutchens Gareth 19 March 2018 ANZ admits not checking key details of loan applications made via brokers Guardian Australia Retrieved 23 April 2018 Frost James 21 March 2018 Hayne Royal Commission Banking royal commission ANZ is still charging the wrong interest rate Financial Review Retrieved 23 April 2018 Lannin Sue 21 March 2018 Banking royal commission ANZ says processing errors to blame for it overcharging customers by 90 million ABC News Australia Retrieved 23 April 2018 Transcript of Proceedings Day 9 transcript Auscript Australia Pty Limited Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry 20 March 2018 Archived from the original transcript on 10 April 2018 Retrieved 23 April 2018 Transcript of Proceedings Day 10 transcript Auscript Australia Pty Limited Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry 21 March 2018 Archived from the original transcript on 10 April 2018 Retrieved 23 April 2018 ANZ Bank CEO Elliott Says Prudent to Sit on Cash Amid Rate Hikes Harry Brumpton and Haidi Lun 3 May 2022 Bloomberg News Retrieved 27 May 2022 ANZ Faces 7 14 Million Fine over Unlawful Charges to Customers Arnab Shome 10 Feb 2020 Finance Magnates Retrieved 27 May 2022 ANZ posts 40 drop in annual profit to 2 53bn Staff Writer 29 Oct 2020 NS Banking Retrieved 26 May 2022 Asia isn t just China CEO of Australia s ANZ says more companies are looking beyond China as tensions flare Weizhen Tan 29 Oct 2020 CNBC Retrieved 27 May 2022 ANZ Halves China Headcount 11 Mar 2021 Finews asia Retrieved 20 May 2022 ANZ affirms China commitment amid job shift plans to other Asian locations 10 Mar 2021 S amp P Global Retrieved 20 May 2022 ANZ faces class action for unfair interest charged from credit card customers Savyata Mishra 30 Nov 2021 Reuters Retrieved 27 May 2022 ANZ faces another lawsuit over undisbursed benefits McDowell Ramintas 8 Dec 2021 S amp P Global Retrieved 26 May 2022 ANZ combines digital and retail divisions ahead of ANZ Plus launch Aimee Chanthadavong 28 Feb 2022 ZDnet Retrieved 27 May 2022 ANZ Westpac and CBA s blockchain start up banks 12 7m Yolanda Redrup 19 April 2022 Australian Financial Review Retrieved 26 May 2022 ANZ announces 5 billion Suncorp Bank takeover ABC News 18 July 2022 a b A N Z BANK CHANGES The Advertiser Adelaide South Australia 15 December 1953 p 6 Retrieved 2 January 2023 via National Library of Australia Chris Clark Wiltshire Aubrey Roy Liddon 1891 1969 Australian Dictionary of Biography National Centre of Biography Australian National University https adb anu edu au biography wiltshire aubrey roy liddon 9150 text16149 published first in hardcopy 1990 accessed online 2 January 2023 ANZ chief retires The Herald Victoria Australia 30 June 1954 p 6 Retrieved 2 January 2023 via National Library of Australia a b Manager Of A N Z Bank To Retire The Mercury Tasmania Australia 5 March 1952 p 22 Retrieved 2 January 2023 via National Library of Australia TODAY S ARGUS REPORTS ON THE STOCK EXCHANGE FINANCE AND MARKETS ANZ Bank has new joint G M The Argus Melbourne Victoria Australia 5 March 1952 p 12 Retrieved 2 January 2023 via National Library of Australia Obituary Mr Riddington The Argus Melbourne Victoria Australia 17 July 1954 p 18 Retrieved 2 January 2023 via National Library of Australia APPOINTMENTS The Sydney Morning Herald New South Wales Australia 13 May 1954 p 6 Retrieved 2 January 2023 via National Library of Australia Former local Manager Becomes General Manager Of ANZ Bank The Dandenong Journal Victoria Australia 19 May 1954 p 20 Retrieved 2 January 2023 via National Library of Australia TOP BANKER TO RETIRE The Beverley Times Western Australia 23 December 1960 p 1 Retrieved 2 January 2023 via National Library of Australia Wongan Banker For Top Job The Beverley Times Western Australia 27 June 1963 p 2 Retrieved 2 January 2023 via National Library of Australia a b Appointed ANZ g m The Canberra Times Australian Capital Territory Australia 13 July 1967 p 25 Retrieved 2 January 2023 via National Library of Australia Men and Matters The Bulletin 89 4564 38 26 August 1967 Retrieved 2 January 2023 via National Library of Australia Trove a b Australia and New Zealand Banking Group Limited Report and Accounts 1969 PDF ANZ 1969 Retrieved 1 January 2023 a b Australia and New Zealand Banking Group Limited Report and Accounts 1970 PDF ANZ Retrieved 1 January 2023 BUSINESS amp ECONOMICS Merger day for two banks The Canberra Times Australian Capital Territory Australia 1 October 1970 p 29 Retrieved 1 January 2023 via National Library of Australia 1973 Annual Report PDF ANZ 1973 Retrieved 1 January 2023 1976 Annual Report PDF ANZ 1976 Retrieved 1 January 2023 a b 1980 Annual Report PDF ANZ 1980 Retrieved 1 January 2023 Top job to Milne Papua New Guinea Post courier Port Moresby Papua New Guinea 7 November 1980 p 12 Retrieved 1 January 2023 via National Library of Australia a b 1984 Annual Report PDF ANZ 1984 Retrieved 1 January 2023 a b 1988 Annual Report PDF ANZ 1988 Retrieved 1 January 2023 a b c 1992 Annual Report PDF ANZ 1992 Retrieved 1 January 2023 a b 1997 Annual Report PDF ANZ 1997 Retrieved 1 January 2023 ANZ Chairman announces successor to CEO Media Release Australia and New Zealand Banking Group Limited 2007 Retrieved 1 January 2023 a b Janda Michael 1 October 2015 ANZ boss Smith to leave to be replaced by current financial chief ABC News Retrieved 17 December 2019 a href Template Cite web html title Template Cite web cite web a CS1 maint url status link a b Commins Patrick Yeates Clancy 30 September 2015 ANZ boss Mike Smith to step down in December CFO Shayne Elliott named as successor The Sydney Morning Herald Retrieved 17 December 2019 a href Template Cite web html title Template Cite web cite web a CS1 maint url status link FIRST CHAIRMAN OF ANZ BANK The Herald Victoria Australia 15 June 1951 p 6 Retrieved 2 January 2023 via National Library of Australia A N Z Bank Chairman s Statement Jerilderie Herald and Urana Advertiser Jerilderie New South Wales 18 December 1958 p 6 Retrieved 2 January 2023 via National Library of Australia ANZ Bank expects profit to rise The Canberra Times Australian Capital Territory Australia 10 May 1967 p 33 Retrieved 2 January 2023 via National Library of Australia ANZ Pressure on bank liquidity The Canberra Times Australian Capital Territory Australia 14 December 1968 p 16 Retrieved 2 January 2023 via National Library of Australia New A N Z Bank Chairman The Sydney Morning Herald 21 June 1967 p 3 ANZ ES amp A MERGER Banking group began at good time The Canberra Times Australian Capital Territory Australia 30 December 1969 p 14 Retrieved 1 January 2023 via National Library of Australia ANZ Group anxious to increase equity The Canberra Times Australian Capital Territory Australia 2 October 1970 p 15 Retrieved 1 January 2023 via National Library of Australia New head for ANZ Bank The Canberra Times Australian Capital Territory Australia 24 June 1970 p 25 Retrieved 1 January 2023 via National Library of Australia Annual Report 1975 PDF ANZ 1975 Retrieved 1 January 2023 1977 Annual Report PDF ANZ 1977 Retrieved 1 January 2023 a b 1981 Annual Report PDF ANZ 1981 Retrieved 1 January 2023 a b 1995 Annual Report PDF ANZ 1995 Retrieved 1 January 2023 Johnston Eric 1 March 2010 8m kitty Goode departs ANZ The Sydney Morning Herald Retrieved 1 January 2023 John Morschel to succeed Charles Goode as ANZ Chairman Media Release Australia and New Zealand Banking Group Limited 24 July 2009 Retrieved 1 January 2023 2010 Annual Report PDF ANZ 2010 Retrieved 1 January 2023 a b 2014 Annual Report PDF ANZ 2014 Retrieved 1 January 2023 a b 2020 Annual Report PDF ANZ 2020 Retrieved 1 January 2023 ANZ first to offer Apple Pay to Australians as bank marketing war moves to payment Mumbrella Retrieved 11 October 2021 a b Behind the numbers staying ahead of sustainable finance Australia and New Zealand Banking Group Limited Retrieved 29 October 2021 ANZ institutional lifts customer focus in FY19 Australia and New Zealand Banking Group Limited Retrieved 29 October 2021 a b Fry Elizabeth ANZ launches sustainability linked derivatives Australian Banking and Finance Retrieved 29 October 2021 Company Profile for Australia and New Zealand Banking Group Ltd reuters com Archived from the original on 2 November 2013 ANZ s Asian super regional strategy gets remake Financial Review 27 January 2016 Retrieved 15 February 2016 ANZ pulling back from Asia expansion The Rakyat Post The Rakyat Post Retrieved 15 February 2016 ANZ s Shayne Elliott talks about shrinking the empire Financial Review 10 February 2016 Retrieved 15 February 2016 ANZ sells Asian retail and wealth operations to DBS ANZ boss says the deteriorating Australia China relationship is concerning 3AW 25 May 2020 Retrieved 22 September 2020 Draper Michelle 17 July 2007 Lend Lease tipped for 100m Myer Docklands HQ Brisbane Times Retrieved 17 November 2011 Engelen John 8 March 2010 ANZ Centre Corporate HQ Docklands Melbourne Dedece Blog Retrieved 17 November 2011 World Architecture Festival ANZ Centre Archived 1 November 2013 at the Wayback Machine retrieved 18 November 2010 a b ANZ to Sell its Old Melbourne Headquarters Sales analysis ANZ Tower 100 Queen Street 380 Collins Street Melbourne PDF Urbis December 2016 Archived PDF from the original on 18 April 2018 Retrieved 1 January 2021 ANZ Tower Francis Jones Morehen Thorp Retrieved 10 November 2021 ANZ Barbara lives in Bank World campaign launches this weekend via M amp C Saatchi Campaign Brief 19 January 2010 Retrieved 17 November 2011 a b ANZ leads bank advertising spending lower as only three banks spend more on ads in 2015 than in 2014 interest co nz Retrieved 13 February 2016 Ad spending tipped to remain steady The Sydney Morning Herald 6 April 2014 Retrieved 15 February 2016 The four pillars of marketing How ANZ Bank goes big in digital Econsultancy 4 November 2015 Retrieved 13 February 2016 ANZ renews Australian Open sponsorship with 5 year exclusive partnership Australia and New Zealand Banking Group Retrieved 6 November 2021 ANZ creates Only GAYTM in the Village as it rekindles Sydney Mardi Gras sponsorship mUmBRELLA mUmBRELLA 11 February 2015 Retrieved 13 February 2016 a b Lee Julian 23 October 2009 New brand logo to cost ANZ 15m The Sydney Morning Herald Retrieved 6 November 2021 Subscription required New Zealand Armorist vol 76 2000 p 19 1990 Annual Report PDF ANZ 1990 Retrieved 1 January 2023 ASIC ready to launch rate rigging case against ANZ Financial Review 7 February 2016 Retrieved 13 February 2016 Commission c au o Australian Government ou Australian Government Australian Securities and Investments 15 060MR ASIC commences civil penalty proceedings against ANZ for BBSW conduct asic gov au Retrieved 4 March 2016 anz traders joked about rigging headline interest rate ASIC files civil rate rigging case against ANZ The Sydney Morning Herald 4 March 2016 Retrieved 4 March 2016 Form 3A Statement of Claim PDF Archived PDF from the original on 28 April 2016 ASIC Lobs New Rate Rigging Salvo at ANZ Bank rate rigging spreads as ANZ Macquarie hauled into court over Malaysian ringgit cartel ANZ rate Rigging Case Could Drag into 2018 9 December 2016 Australian Banks and Land Grabs Oxfam Australia Oxfam Australia Retrieved 15 February 2016 ResourceSpace resources oxfam org au Retrieved 15 February 2016 ANZ ethics under scrutiny over Cambodian sugar plantation loan The Sydney Morning Herald Retrieved 15 February 2016 ANZ faces accusations it financed business that forced villagers from land Australian Broadcasting Corporation Retrieved 15 February 2016 Australia s ANZ agrees payout to Cambodians locked in land dispute Matt Blomberg 27 Feb 2020 Reuters Retrieved 27 May 2022 Gluyas Richard 16 February 2016 The Australian Barrister Peter King calls for royal commission into provision of finance Retrieved 16 February 2016 Calls for Royal Commission into bank treatment of farmers The Sydney Morning Herald Retrieved 16 February 2016 a b Parliamentary inquiry hears claims that farmers felt victimised in loans affair ABC Rural Retrieved 16 February 2016 a b Claims of Racism Surface in Oswals 15B ANZ Legal Battle ANZ Accused of Racial Bigotry Towards Indian Billionaires ANZ Settles High profile Legal Dispute with Oswals ANZ boss Shayne Elliott draws up plan to fix toxic culture Financial Review 18 January 2016 Retrieved 21 June 2016 ANZ women surely had little choice but to play along The Sydney Morning Herald Retrieved 21 June 2016 ANZ set to apologise to broker Angus Aitken over sexism claims Bell Potter ANZ and Etrade Sale the Aitken Tale Gets Curiouser Ex ANZ director John Dahlsen says bank culture competition still need repair Sex Clubs Racial Insults Inside ANZ s New York Office ANZ Hit with Sexually Aggressive Claims Against Managers ANZ grilled over Malay corruption scandal The Sydney Morning Herald Retrieved 4 April 2016 Media WorkDay Malaysian corruption scandal deepens raises more questions for ANZ www bankingday com Retrieved 4 June 2016 ANZ Bank admits inability to control its Malaysian affiliate Calls for Financial Ombudsman Service to be disbanded over credibility issues ABC News Retrieved 17 March 2016 The questions the Financial Ombudsman needs to answer ABC News Retrieved 2 April 2016 Media WorkDay Australian Banking and Finance News from Banking Day www bankingday com Retrieved 7 April 2016 ANZ Bank Slashes Hundreds of Jobs ANZ KEEP OUR JOBS HERE Finance Sector Union 28 November 2006 Archived from the original on 27 September 2011 Retrieved 17 November 2011 Financial Services Union of Australia 2006 Bank Check Spotlight on the ANZ Bank Archived 17 November 2007 at the Wayback Machine retrieved 8 December 2009 ANZ Bank Joins Tech Giants Creating Blockchain Hyperledger ACCC Clears Banks Discrimination Act 1991 ACT ss 7 p and 57N Danckert Sarah 24 September 2021 Bitcoin trader takes banks to court over cryptocurrency discrimination Sydney Morning Herald Archived from the original on 24 September 2021 Retrieved 4 October 2021 ACT Civil and Administrative Tribunal FLYNN v AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED ACN 005 357 522 Discrimination 2021 ACAT 50 PDF ACAT Archived PDF from the original on 5 July 2021 Danckert Sarah 14 October 2021 ANZ settles debanking case brought by bitcoin trader The Sydney Morning Herald Retrieved 12 November 2021 Allan Flynn on LinkedIn bitcoin www linkedin com Retrieved 12 November 2021 The Panama Papers ANZ was the leading Australian bank in Mossack s universe Correction Criminal cartel charges to be laid against ANZ ACCC 1 June 2018 Retrieved 5 August 2018 Update Criminal cartel charges to be laid against Citigroup ACCC 1 June 2018 Retrieved 4 August 2018 a b Investment bankers back in the spotlight as cartel case resumes Australian Financial Review 1 July 2020 Retrieved 2 September 2020 ACCC s criminal cartel six to be split up before trial Australian Financial Review 24 July 2020 Retrieved 2 September 2020 Ferguson Adele 5 May 2014 Banking Bad transcript Four Corners Australian Broadcasting Corporation Retrieved 1 March 2018 McGrath Pat Janda Michael 27 June 2014 Senate inquiry demands royal commission into Commonwealth Bank ASIC ABC News Australia Retrieved 1 March 2018 Verrender Ian 7 August 2017 How the Commonwealth Bank laid the groundwork for a royal commission ABC News Australia Retrieved 1 March 2018 Frost James Eyers James 21 December 2016 CBA and NAB admit impropriety in foreign exchange trading The Age Melbourne Retrieved 1 March 2018 Dankert Sarah 30 October 2017 Westpac to fight ASIC allegations after ANZ NAB settle rate rigging case The Sydney Morning Herald Retrieved 3 March 2018 Chau David 23 October 2017 ANZ settles interest rate rigging case just before trial begins ABC News Australia Retrieved 1 March 2018 ANZ Trader Sues for Defamation Over Social Media Rebuke Seeking 20 Million Bloomberg com 21 July 2020 Retrieved 9 September 2020 Johns Rebecca 28 February 2023 Confidential bank documents found dumped in Armadale bin The Age Retrieved 28 February 2023 External links Edit Wikimedia Commons has media related to Australia and New Zealand Banking Group Official website Portals Companies Banks Retrieved from https en wikipedia org w index php title ANZ bank amp oldid 1142505703, 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