Geczy cited the example of an iron ore miner: “Not only do we need to know their people in Melbourne and Perth. We need to know and be close to their export manager in Singapore. Their export manager is the person on the ground doing the selling and we need to understand who they are selling to. Only then can we identify further opportunities to help their business and capture a greater share,” he said.
“The world is more complex and we want to help remove those pain points, whether they’re regulatory or in processes, we’re not just selling financial capital we’re selling intellectual capital, insights.”
Géczy said the more focussed approach by ANZ translated to less balance sheet based, capital intensive business - which faced tight margins - to more fee and capital light business such as transaction banking. Other operating income, as opposed to interest income, is now 45 per cent of the total.
For trade flows, key market corridors linked Australia, China, Japan and Korea. In capital flows, such as foreign investment to support infrastructure, corridors were Australia, Europe and the Middle East, Japan and Korea. For wealth flows, such as financial institution business and managing financial assets, the key market corridors were Australia, Hong Kong, Singapore, Japan and Korea.
The Asian Investor Tour presentations outlined where ANZ claims competitive advantage through being the only Australia and New Zealand-anchored bank with extensive networks and staff in Asia. The bank was, Geczy said, “the most international of the Australian banks and the most Australian of the international banks”.
Drew Riethmuller, managing director of the customer solutions group, argued ANZ’s Asia Pacific network, product capability and strong risk discipline was unique in the region. The bank’s AA credit rating, while shared by other Australian majors, was a unique feature when coupled with the Asian network for many customers.