ANZ AIMS FOR TOP IN INSTITUTIONAL BANKING
Steve Targett, head of institutional banking at ANZ Bank, outlined a stark goal for his business in an interview with the Australian."Being number one gives you the best access, so market share is important … If you have access, you have a better chance of expanding the relationship."I've given myself three years from when I started [in mid 2004] to make sure we have some serious traction. So if we're not there by then, I think we've failed in a way. It's that simple."The Australian, probably relying on ANZ's analysis of the market, cites Westpac as the leading provider of institutional banking products.Recent research by East & Partners shows that Commonwealth Bank ranks first among corporates as "principal transaction banker" with a market share of 22.4 per cent, followed by Westpac with 20.8 per cent, ANZ with 20.4 per cent and National Australia Bank with a market share of 17.1 per cent.On the alternative measure of "principal corporate banker", NAB leads this (more crowded) market, with a market share of 10.3 per cent, followed by ANZ with a 9.6 per cent market share, then Westpac (9.4 per cent), Swiss bank UBS (9.2 per cent) and then CBA (at 9.0 per cent).