ANZ buys up ING

ANZ has announced it will buy the remaining 51 per cent of its ING life insurance and wealth management ventures in Australia.

The purchase price is a little over $2 billion.

ING employs 2,200 staff in Australia and 500 in New Zealand.

It has received some bad press after last year freezing two of its investment funds. Many of those who put money it ING's diversified Yield Fund, and the Regular Income Fund say they were touted as low or moderate risk

- NEWSTALK ZB