ASB and Commonwealth Bank have together announced changes to their Institutional Banking and Markets (IB&M) business in New Zealand. For the last two years, this business traded as ASB Institutional but, from 1 July, the decision has been made to remove that brand from the marketplace.
As a result of these changes, New Zealand’s largest institutional banking clients will now be managed directly by the Commonwealth Bank IB&M team in New Zealand, supplemented by specialist resource from the global institutional IB&M group. All other ASB Institutional clients will form a new market segment called ASB Corporate, which as part of ASB’s Corporate, Commercial & Rural division, will benefit from the total business focus that has made ASB’s Commercial teams a market leader in service.
The changes reflect our commitment to provide unbeatable service to our clients and to leverage the global strength and specialist capabilities of the Commonwealth Bank group regardless of the segment they are served through.
Please click on the logo below that is most appropriate to you to be taken to New Zealand page on the Commonwealth Bank’s website or to the Business section of ASB’s website.
ASB Bank Limited (ASB)
Commonwealth Bank of
Australia (ABN 48 123 123 124, incorporated in Australia) (Commonwealth Bank)