Posted on Aug 11, 2010 by Sergio Ulloa
ANZ, the New Zealand-based banking giant, has recently announced its plans to launch the new brand OnePath to market their specialist fund management and life insurance businesses, currently under the ING brand, in both Australia and New Zealand.
With this move, ANZ intends to attain full ownership of the joint ventures it formed with ING in November last year.
Among the main purposes of this re-branding exercise, ANZ aims to position the OnePath businesses as specialists with the capabilities to support the specific needs of customers and intermediaries, at the same time focusing on achieving aggressive growth in the wealth management market, growing their share of the independent financial advisory sector in the process.
Existing customers and intermediaries of ANZ took part in the soft-unveiling of the new OnePath brand last week, where they were presented with an explanation of the name and the corresponding branding objectives.
ANZ Chief Executive for Australia, Philip Chronican, explained that OnePath was chosen to reflect "a different path for each and every one of us", and that it would endeavor to provide a "refreshing approach to delivering investment, superannuation, insurance and advice solutions with a clear connection to ANZ."
The rights for ANZ to continue using the ING brand expire on November this year, which coincides with the time the new OnePath brand is scheduled to make its début.
ING and ANZ had signed a transitional services agreement on November of last year.
The history of ANZ dates back to over 170 years. ANZ is committed to building lasting partnerships with their customers, shareholders and communities in 32 countries in Australia, New Zealand, throughout Asia and the Pacific, and in the Middle East, Europe and America. ANZ provides a range of banking and financial products and services to more than 5.7 million retail customers and employs over 39,000 people worldwide.
ING is a global financial institution of Dutch origin, currently offering banking, investments, life insurance and retirement services to meet the needs of a broad customer base. Going forward, ING will concentrate on their position as an international retail, direct and commercial bank, while creating an optimal base for an independent future for their insurance operations (including investment management).