ANZ has expressed its support for the Australian Business Growth Fund and announced Anthony Healy as the fund's first Chief Executive Officer. ANZ is one of the shareholders in this initiative, which aims to provide equity capital access to Australian businesses.
Isaac Rankin, ANZ Managing Director of Commercial & Private Banking, will join the Board as part of ANZ's involvement. The bank has committed $100 million to help establish the fund.
Rankin stated, "ANZ is supporting small to medium businesses in a range of ways and the establishment of this fund will provide another avenue for them to take advantage of growth and expansion opportunities, particularly as the national economy recovers from the impacts of COVID-19."
He also expressed his satisfaction with being on the Board and congratulated Anthony Healy on his new role.
This development follows ANZ's participation in the second phase of the Government’s Small and Medium Enterprise loan guarantee program. This phase allows businesses to borrow larger amounts over extended periods with more flexible terms.