Money

Issue No. 19 - October/November 2004

ANZ investment arm starts up

Big four banker ANZ has extended its Private Equity business to Adelaide in a move intended to offer a leg-up to growing SA business.

ANZ brought some big guns -- Graham Hodges, Group Managing Director, Business Banking and Joseph Healey, Head of Private Equity Capital, ANZ Investment Bank – to Adelaide in September to launch the bank's Private Equity Team headed by Jeremy Steele.

The Private Equity scheme has operated in other states for some time (employing 35 senior officers) to bring a menu of investment banking products down from the corporate level to medium-sized enterprises.

Jeremy explains that ANZ's target market is smaller companies dealing with issues like generational change in family businesses, management buyouts, acquisitions or divestments, or the capital needs associated with rapid growth.

He says interstate operations have confirmed the need for flexible development capital at that level. Pre-launch interest is indeed high.

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