ANZ Sending Jobs Back to Asia
ANZ slashed business units in Asia over the past 18 months. Now, the Australian bank is moving some jobs back to the region – perhaps not in the way bankers might expect.
Under Chief Executive Shayne Elliott, the Melbourne-based banking group has been «simplifying», with the Asian and wealth management businesses bearing the brunt of the transformation.
In a reversal, ANZ is planning to transfer jobs from its Wellington office to the Philippines. Staff from the collections team were informed earlier this month that the bank was proposing to transfer the work to Manila, according to «Radio New Zealand.»
Ironically, the planned offshoring comes as ANZ reduces its presence in the Philippines by closing its retail unit in the country. The bank also agreed to sell part of its stake in Metrobank Card to Metrobank, the second largest bank in the Philippines, for $144 million.
