ANZ takes all of ING NZ

ANZ National Bank now has full ownership of ING NZ.

In September ANZ announced it would acquire ING Group's 51 per cent shareholding in ING NZ and ING Australia on top of the 49 per cent it already owned.

Following completion of the transaction yesterday ANZ National said it would take full ownership of ING NZ's listed property trust management companies, as well as ING NZ's funds management (including investment management) and insurance businesses.

No changes were expected to be made to the management of the trust and it would continue to trade as a listed entity on the NZX.

ING-appointed director David McClatchy stepped down as a result of the change of ownership.

- NZPA