Speaking to BlueNotes on video, Whelan, ANZ Group Executive, Institutional said conditions in the market have stabilised and are unlikely to significantly deteriorate further, a positive development in an environment of low interest rates, margins and high regulatory costs.
" We haven’t seen any significant new big issues, it’s more working through the ones we have on the sheet."
Mark Whelan, ANZ Group Executive, Institutional
He said the new strategy and business simplification are beginning to show results and the division was on track for returns “well above our cost of capital”.
“We are really focusing on the industries that create value for us, where we’re very good – agri, resources, funds and banks, areas where we see some growth, health and technology.” Whelan said.
“We want to sharpen our focus on our core customers… declutter our client base.”