ANZ has completed a A$3.5 billion equity capital raising, which it will use to acquire Suncorp’s banking business. On Friday it completed a retail shortfall bookbuild, concluding the final stage of the entitlement offer. Institutional investors subscribed for $1.7 billion of shares and retail investors $1.15 billion. Around 36.4 million of share entitlements were not taken up by eligible retail investors and were sold through the retail shortfall bookbuild.

 

ING Bank (Australia) has appointed Andrew Hector as its new head of wholesale banking Australia. Hector is moving from ANZ, where he has spent the past 13 years in executive roles, most recently general manager corporate and institutional banking (property and health). He has also worked in senior roles at Citigroup and Westpac.