By RICHARD PAMATATAU
ANZ Banking Group will retain a development team in New Zealand once work begins uniting its computer systems with those of the recently acquired National Bank.
The ANZ bought National Bank for $5.6 billion last year and at the time said integration would take place after both operations had
been assessed.
A move to retain a development team in New Zealand might enable the bank to meet its Reserve Bank requirements, which say that once the "new bank" is established it must be able to operate independently of its Australian parent.
Much of ANZ's information processing is done in Melbourne.
It is understood this is a fundamental requirement for the new banking licence after the bank's form is crystallised.
As part of that new structure the head offices, back-office operations and internet technology (IT) are to be combined.
ANZ expects annual savings of $126.5 million from that within three years.
Job losses will be centred in those areas, but no final figure has been worked out.
National Bank spokeswoman Cynthia Brophy said ANZ's Hogan banking system would be retained and customer data from National's Systematics system, which runs on IBM mainframes, would be carried across. Staff were being kept up-to-date with the process.
Finsec, the financial and information workers union, estimates that around 500 people working in IT are affected, most employed by the National Bank.
When completed the new bank would have more than 9000 staff, said Andrew Casidy, Finsec secretary.
This would be the biggest banking merger in the country.
The Herald has been told that the axing of the National Bank's information system would have a significant impact because many staff would be let go.
Brophy said it was a good thing that development staff were being retained locally.
But she would not comment on speculation that another overseas bank was looking at using the National Bank's systems and staff for another development project.
Casidy said the key to the significance of the development centre depended on just what information systems would be made in New Zealand.
