[Note: Text on screen that’s similar to what’s being said is not described in this transcript]
[Text on screen: Nee Cullum, Head of International – Migrant Investors, ANZ Private, ANZ logo]
Nee: Welcome everyone to ANZ Private. We have won the Best Private Bank in New Zealand again. So today, we have Glenn Stevenson here with us.
[Text on screen: Glenn Stevenson, General Manager, ANZ Private, ANZ logo]
Nee: Welcome Glenn and thank you for your time.
Glenn: Thanks, Nee.
Nee: Congratulations to you and the team again for an outstanding result. Now, what do you think continues to set ANZ Private apart?
Glenn: Look, I think at the end of the day, we are a trusted relationship business. And so really, a lot of it comes down to how good we are at being able to leverage those relationships to really understand what our clients are trying to achieve. You know, what their goals are, what their ambitions are. You know, they have values and what they're trying to do in that regard, and just match the solutions that we have available or the connections we have available in order to support them with achieving those. Yeah.
Nee: Oh, that's fantastic. So how do you help clients identify and take advantage of those opportunities?
Glenn: Yeah well, the big one is, is about, you know, ANZ and the size of the organisation. I think, you know, back to my earlier point, it's really about how good we are at uncovering those goals and those needs and what they're trying to achieve. And then how good are we at being able to connect them with other opportunities that might be, you know, sitting within our large network within ANZ or even externally, from that as well into, maybe, connections and referrals to our professional partners across the country. A lot of the time we might not have the exact solution that a client's after, or they're after quite a specific piece of advice. And we might not be in a position to be able to provide that, but we sure as heck know somebody, that can support them. And so referring them to, to others within ANZ or beyond is an important part of our proposition.
Nee: Yeah, very good. Now this year we know that the Active Investor Plus programme has been amazing.
Glenn: Yes.
Nee: Good for the country. Now we have also secured a lot of investor migrants to help them, to settle into New Zealand. How valuable do you think, these migrants appreciate the connection that we make with the network?
Glenn: Yeah, well, I think it's really, really valuable. And we get great feedback from our migrant clients. There's sort of two ways I'd talk about it. One is that there's the technical nature of what they're trying to do with applying for residency and working through that process from an investment perspective. So technically, we're able to help them with that. And it might mean actually that part of that is that we might connect them with opportunities externally as well. They might want to, you know, invest in some of the fantastic venture capital funds we have available or maybe it's even private equity. So we have fantastic relationships with some of those external providers and that we can, you know, point them to. And then the second element is that we're very mindful that they're coming to a new country, and they don't have the same friends and family network that they’ve had, you know, back home.
Nee: Yeah.
Glenn: And so, another thing we do is hold networking events to be able to connect them and introduce them to others that are in a very similar boat. And we get great feedback from our clients on the fantastic job we do there. And some of them end up forging, you know, new lifelong friendships, which is absolutely fantastic.
Nee: Now we know that service is very important, and service is often what clients remember most.
Glenn: Yes.
Nee: What does great service look like at ANZ Private?
Glenn: Yes. Well, in ANZ Private, like lots of private banks, they’re built on a foundation of providing fantastic service and that's no different, you know, with our good selves. The example I would give, probably is, a lot of our clients may need to do something with the banking side of our business. It might be, oh, they need to send some money overseas or they’ve got a problem that they need, that they need sorted out with their banking. You know, they can ring our private client services team. And so they ring an 0800 number, and on average we're answering that in around ten seconds. So you know, they're getting fantastic service the ability to get what they want done really quickly and then just, you know, get on with their lives, dare I say it. Yeah.
Nee: I know that we have an incredible team that's working very hard delivering outstanding service.
Glenn: That’s right.
Nee: Now with the ongoing uncertainty in the investment markets, how is ANZ Private helping clients navigate that environment?
Glenn: Yeah, well it's about, it’s back to some of those earlier points around keeping the communication lines open with clients. We know there's a lot of volatility out there. I'm really pleased and I know, you know, most of the team, many of the team are around the capability that we have sitting within our investment management team these days as part of ANZ Investments. You know, the way that they are working now with external partners like BlackRock, the systems, the analysis that they have available to them, the ability to connect with offshore fund managers who may be supporting some of the investment we're doing offshore is, you know, is unparalleled these days, and the fact that that all exists with capability that we have here onshore, that is making those decisions and helping manage those portfolios. So I think the combination of all those sets us up really well to navigate what may continue to be a bit of a, a choppy period in the not too distant future.
Nee: You know, and it’s not just investment markets that clients are having to navigate. We know that fraud and scams are becoming increasingly sophisticated as well So how is ANZ Private helping to protect clients?
Glenn: It's a good question. I mean, there's a lot of that type of activity unfortunately, going on in the marketplace. We have a lot of technology that we are leveraging, within the wider ANZ business, which is fantastic. It's back to that point earlier about, being part of the biggest bank.
Nee: Bigger bank, yeah.
Glenn: One of the really interesting innovations that we've launched very recently, that we're getting some great client feedback on is ANZ Caller Check. And so it's this nice way of, if you are contacted by somebody and you're not too sure, if it is someone at ANZ or you think it could be fraudulent, you have the ability now to be able to ask them to verify that into your, goMoney app, and it gives you the ability to understand and verify that you are actually talking with someone from ANZ. So it's been a nice little innovation that's made a real difference and made our clients feel a lot more confident that they're talking to the right people.
Nee: That's a great example of how ANZ’s broader capability can really benefit ANZ Private. And now looking beyond protection, how are we using the scale and capability to bring new ideas and opportunities to our clients?
Glenn: One of the ones that I really like at the moment, and we've had this capability within ANZ for a little bit now. We've been refining it, making it a little bit better, really starting to promote it as a new business tool and business reporting, called ‘The Sauce’, and it's a little bit like our secret sauce. And so what it does is it takes anonymised transaction data, of which we have a lot of, it takes merchant-based information as well. And it combines it even with government-verified data at the same time and puts that all together into a tool called ‘The Sauce’, which can then provide information to our clients and to our business customers to help them make decisions. So they might be thinking about opening a new store or they might have a new product that they're thinking appeals to a particular market. This information that sits within ‘The Sauce’ can help as they think about doing that.
Nee: Wow, what a fantastic new way for our clients to uncover opportunities and know what's going on in the market. That's really great. So, well, Glenn, on behalf of the rest of ANZ, congratulations again on the win. Any final thoughts you'd like to leave with us?
Glenn: Well, probably, there’s actually two. The first I would say it's fantastic to win the award. But the first thing I would say is thank you very much to our clients. You know, I know they trust us, with their business. And we take that really, really seriously. But we want to thank them for doing so. The second thing I'd say is that I really want to thank the team. They put a lot of effort and a lot of hard work, you know, day in, day out, week in, week out, to ensure that they are doing the right thing by our clients and working really hard to provide the fantastic service and advice that we give to our client base. And so this award is very much, because of them. So thanks very much to the team. I'm very proud of the award, but very proud of the way that they have helped us achieve it.
Nee: Wonderful, thank you so much, Glenn.
Glenn: Thanks, Nee.
[Text on screen: Important information. Information can change, is general, and not advice. We’ve used reliable sources to get this information, but we don’t promise it’s accurate, complete, or suits you. To the extent that the law allows, we don’t accept responsibility for loss or damage if you rely on or use this information. Past performance is not indicative of future performance. We don’t guarantee performance, which depends on many things, and could be positive or negative. Best Private Bank in New Zealand at the PWM/The Banker Global Private Banking Awards, 2018-2024 and 2026. The Sauce by ANZ™ insights will be provided in a report prepared by Dot Loves Data Limited. Spend data is estimated based on ANZ merchant location and aggregated and anonymised in-store card transactions made by ANZ card holders, and international cardholders at ANZ merchants. ANZ does not warrant the insights are accurate, complete or suit your intended use. To the extent the law allows, neither ANZ or Dot accepts any responsibility if you use or rely on the insights. Eligibility criteria and terms apply. Eligibility criteria and terms and conditions apply to ANZ goMoney. See our Electronic Banking Conditions for more information. ANZ Bank New Zealand Limited. ANZ logo]