National Banks to be rebranded ANZ

Staff at all ANZ and National banks across the country are being called to crunch meetings this afternoon where it’s expected they will be told National’s prancing horse will be put out to pasture.

For some time, ANZ National has been considering its future as part of a major review.

The move is reportedly unlikely to lead to job losses. Instead staff will gradually be reduced over the next couple of years, mainly through attrition.

But where many ANZ and National Bank branches operate in close proximity to each other, bank workers fear that some jobs will be lost. It’s believed surplus branches will be shut down.

ANZ National Bank spokesman Stefan Herrick refused to confirm that the rebranding move would be announced today, but did tell APNZ: “The decision would be made very soon.”

He confirmed that staff at both banks would be given an update on the “New Zealand simplification project” this afternoon.

Mr Herrick said it was a major, long-running project aimed at “simplifying the business”, including IT systems.

Staff across the country would be told of the update at a coordinated time, but the spokesman would not say exactly when.

Australian-owned ANZ Banking Group bought National Bank from Britain’s Lloyds TSB for NZ$6.9 billion in October 2003.

Combined, ANZ and National have 310 branches, around 9,500 workers, and boasts that half of all New Zealanders are customers.

The bank workers’ union, FIRST Union says ANZ needs to reassure staff and customers that any changes to the National Bank will be the changing of a brand, not the closure of a bank.

Australian-owned ANZ makes billions out of New Zealand, and any closure of the National Bank must not be used as an excuse to cut branch numbers, service to customers or staff numbers, said union Finance Secretary Andrew Casidy (correct).

“Bank staff and customers are justifiably very nervous about the implications of such a decision, and will want assurances that their jobs are safe and that their communities will not suffer as a result of such a move, as others have in past bank mergers.”

Earlier this year, it was reported that ANZ New Zealand was trying to get customers and staff of both ANZ and National banks on one information technology (IT) system by the end of October.

ANZ set up a new banking website, Smarter Banking, which bills itself as ‘Changing for the better’, and industry experts said at the start of this month that the move indicated a possible end to the group’s use of the National Bank brand.

By Kurt Bayer