ANZ closes RBS Taiwan private bank purchase

Australian bank ANZ has bought ABN AMROs private banking business in Taiwan, as part of a wider purchase of Royal Bank of Scotlands (RBS) retail, wealth, commercial and institutional bank. The private banking arm was previously joined to the retail, wealth, commercial and institutional businesses, prior to the sale of ABN AMRO to a consortium including RBS in 2007, and remains closely connected, sharing systems and technology. The private bank acquisition gives ANZ a private banking team based in Taipei, Taichung and Kaohsiung to develop its private banking business in Greater China.