Organises Personal Banking Around Growth Priorities

Document date:  Mon 24 Feb 2003
Published:  Tue 25 Feb 2003 10:16:49
Document No:  201211
Document part:  A
Market Flag:  N
Classification:  Other 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2003-02-24  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ today announced changes to the internal organisation of its
Personal Banking and Wealth Management division to give more focus on
its growth priorities.

* Banking and Transaction Services - a new specialist business headed
by Mr Craig Coleman has been created to grow share in core banking
products through ANZ and third party channels.

* Personal Banking Australia - the metropolitan retail branch and
personal distribution network, will now be headed by Mr Satyendra
Chelvendra. This unit will work alongside existing Rural Banking and
Private Banking customer channels.

* Personal Advisory Services - the ANZ financial advisor network will
work more closely with ING Australia, ANZ's joint venture with ING.
Although Personal Advisory Services remains 100% ANZ-owned, its
financial results will be reported as part of the ING Australia
specialist business in ANZ's financial results.

ANZ Managing Director Personal Banking and Wealth Management, Mr
Elmer Funke Kupper said: "The changes establish Banking and
Transaction Services as a growth business following our success over
the past year in attracting more customers through our new Access
accounts. They also allow us to better leverage the ING Australia
joint venture by more closely linking it to advisor distribution.

"In addition, the changes give greater ownership of the relationship
with customers and the local community to our local personal banking
staff. This is consistent with our Restoring Customer Faith
initiative," Mr Funke Kupper said. 

ANZ will report its Interim Results for the half year ended 31 March
2003 based on the former structure and the second half on the new
structure.

For media enquiries, contact:

Paul Edwards
HEAD OF GROUP MEDIA RELATIONS
Tel: 03-92736955 or 0409-655 550
Email: edwardp12@anz.com