Elliott says ANZ has focused for a number of years on strengthening its financials while building management depth and those factors make him confident the bank will be able to manage the execution risk which are a factor in all such acquisitions.
“[It’s about] the quality of the people [and] the way we organise ourselves. Making sure we're really focused and deliberate, [and] building our capabilities on execution… We're very confident we can do this well.”
However, Elliott reinforces the Suncorp Bank brand, as well as its staff and management team, will remain separate to ANZ for a period of time while a longer term outlook and strategy are assessed.
“We want to give customers the reassurance business will continue - they'll be dealing with the same people, with the same great services, with the same executive team and the same brand,” Elliott says. “Suncorp Bank is a strong brand and it gives customers the confidence the organisation they're dealing with, by and large… will continue to be there.”
Elliott says he’s been impressed from what he’s seen at Suncorp Bank and the transformation CEO Banking & Wealth Clive van Horen and his team have made over a number of years.
“It's a simpler, stronger bank today. It's a high-quality franchise [with] lots to be proud of,” he says.
You can learn more about the acquisition by watching the video above.
Andrew Cornell is Managing Editor of bluenotes