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Appoints funds mgmt head/Accelerates strategy implementation

Document date:  Mon 11 Dec 2000
Published:  Mon 11 Dec 2000 15:54:23
Document No:  171128
Document part:  A
Market Flag:  N
Classification:  Company Administration - Other

AUSTRALIA & NEW ZEALAND BANKING GROUP LI      2000-12-11  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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MEDIA RELEASE

ANZ today announced the appointment of Mr Bruce Bonyhady as Managing
Director, Funds Management and Insurance.

The appointment follows ANZ's agreement to a request by the Victorian
Government to release Mr James MacKenzie who will take up a new role
as Chairman of the Victorian WorkCover Authority Mr MacKenzie will
be retained as an adviser to Mr Bonyhady on strategic issues for a
period.

Mr Bonyhady is currently Chief Investment Officer, ANZ Funds
Management and he will take up his new role on 15 January 2001.

Prior to joining ANZ, Mr Bonyhady was Executive Vice President and
Head of International at BT Funds Management. Previously he held a
number of senior roles with National Mutual including Managing
Director and Chief Investment Officer for their European funds
management operations and Chief Economist for National Mutual Funds
Management.

ANZ Group Managing Director Personal Financial Services, Mr Peter
Hawkins said Mr MacKenzie had put in place a strong management team
and established a clear strategic direction.

Key points of the plans for Funds Management include:

* further developing ANZ's strong investment performance capability
in core Australian asset classes

* establishing a centre of excellence for sourcing third party
products to augment ANZ's own products

* leveraging distribution channels through ANZ's specialist customer
businesses in Wealth Management, General Banking, Small Business, and
Corporate and Institutional Banking

* developing new external channels especially in wholesale investment
management 

* redesigning the Funds Management operations platform to support
growth and efficiency.

"Bruce has already made a significant contribution to the development
of the Funds Management strategy and, as Chief Investment Officer,
has continued ANZ's consistently outstanding investment performance,"
Mr Hawkins said.

For media enquiries, please contact:

Paul Edwards 
Head of Group Media Relations 
Tel 03-9273 6955 or 0409-655 550 
Email: edwardpl2@anz.com

ANZ ASSET MANAGEMENT INVESTMENT PERFORMANCE

ANZ Asset Management Fund    One Year              Three Year 
                             Performance(2)        Performance(2) 

                             Return   Ranking(3)   Return  Ranking(3) 
                             (% pa)                (% pa) 

Australian Shares 
Specialist Funds(1)          23.9     5/28         22.5    1/21 

Australian Fixed Interest
Specialist Funds(1)          8.1      6/31          5.9    5/27

ANZ Super Pool Growth
Fund                         16.0     2/32         14.4    1/29

1. Composite of ANZ Specialist Funds 
2. Period to 31 October 2000 
3. Source Mercer Investment Consulting