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ANZ Securities sold to FNZC
Anyone was expecting this?
ANZ Bank New Zealand Limited (ANZ) has today announced it will enter into a strategic alliance with share broking, wealth management and investment banking company First NZ Capital Securities Limited (FNZC).
As part of the alliance ANZ has agreed to sell the ANZ Securities service - which includes the platform that allows you to trade equities and bonds - to FNZC.
The sale will mean some changes for you, but both ANZ and FNZC are committed to ensuring that there is as little disruption as possible for you.
As the sale progresses, we'll keep you updated as to what is happening so you are fully informed and can make a smooth transition to the new platform.
You can continue to trade equities and bonds online as normal
You can continue to use the ANZ Securities service just as you do now until the completion of the sale. We anticipate that the sale will complete in the second half of 2018, which is subject to closing steps and conditions.
After the sale is completed, FNZC will operate the online equity and bond trading service, including any associated multi-currency bank account. The FNZC service will be called Direct Broking and will have new branding, but will offer similar features to the ANZ Securities service.
The sale of the ANZ Securities service will have no impact on any other banking services provided to you by ANZ, including KiwiSaver and managed investment funds. ANZ will continue to provide you with access to new fixed income investment opportunities.
You don't need to do anything now
We'll keep you updated over the next few months, including letting you know the date the sale will take place. In the meantime, you can continue using ANZ Securities just as you do now.
Why are we selling the ANZ Securities service?
The sale is part of a strategic alliance between ANZ and FNZC. This alliance allows ANZ to continue to simplify its business, while ensuring our customers can continue to access a high-quality equity and bond trading service.
Who is FNZC?
FNZC is a leading full service, wholly locally owned, share broking, wealth management and investment banking* firm. FNZC has been awarded INFINZ Sharebroker of the Year for 8 of the last 10 years, including 2017.
FNZC has been active under various names for more than 50 years and has a formal strategic alliance with Credit Suisse, a global financial institution, a relationship that has existed for more than 20 years. You can find out more about FNZC at www.fnzc.co.nz .
*FNZC is not a New Zealand registered bank
For more information
If you have any questions or would like more information, please feel free to contact us on 0800 805 777 or visit www.anzsecurities.co.nz.
Yours sincerely
Tim Olphert
Managing Principal
ANZ New Zealand Securities Limited
James Lee
Chief Executive Officer
First NZ Capital Securities Limited
www.anzsecurities.co.nz
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That probably means I will streamline my broking needs and switch over to ASB Securities so I have a one-stop-shop for all my finances.
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Shouldn't see much change from an operational viewpoint, they will have to remain competitive on brokerage, or they will lose customers to ASB(At the moment ASB are 50% dearer on a significant trade, 0.3% versus 0.2% with ANZ)
Last edited by couta1; 20-11-2017 at 01:53 PM.
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Hmmmm... -going back to the "original" name - Direct Broking , which is what it was called when I joined them. I use them and ASB to keep some things separate.
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I see ASB charge $2 for a paper contract note currently, that's daylight robbery, I get all my contract notes in paper form from ANZ at no cost.
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I just have to ask why you get a paper copy
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Originally Posted by Jay
I just have to ask why you get a paper copy
I'm old school, I like physical hard copies, I've run my small business accounts without a computer for 27yrs(Just an income plus expenditure book) I do all my tax returns online however nowdays.
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Originally Posted by couta1
I'm old school, I like physical hard copies, I've run my small business accounts without a computer for 27yrs(Just an income plus expenditure book) I do all my tax returns online however nowdays.
Print out the email, there's your hard copy, that's what I do, still costs a lot less than $2 a copy
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Originally Posted by Jay
Print out the email, there's your hard copy, that's what I do, still costs a lot less than $2 a copy
It's costs me nothing at ANZ, I don't use ASB and this is another reason why not, besides their brokerage being 50% dearer.
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Member
I didn't even get an email regarding this, reading it for the first time here
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