ANZi spins out its investments and innovations arm

Friday 23 July 2021 12:21 CET | News

The Australia and New Zealand Banking Group has announced its plans to spin out its investments and innovations arm ANZi, renaming it to 1835i as a tribute to the year the bank was founded.

1835i will operate as a separate entity to ANZ and it will be able to take on the business model of a startup, not a bank, which includes being free of the regulatory requirements that ANZ has as an authorised deposit-taking institution (ADI).

ANZ will continue to fund 1835i's investments and oversee its governance and ANZi managing director Ron Spector will continue to lead the team.

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Keywords: rebranding, regulation, banks
Categories: Banking & Fintech
Countries: Australia, New Zealand
This article is part of category

Banking & Fintech