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Herbert Smith Freehills advises Suncorp Group on the landmark sale of Suncorp Bank to ANZ

18 July 2022 | Australia, Asia Pacific
Deals and cases


Herbert Smith Freehills is delighted to have assisted Suncorp Group Limited on the execution of the landmark transaction involving Suncorp’s sale of Suncorp Bank to ANZ.

The transaction was led by corporate M&A partners Matt FitzGerald and Tony Damian, with Kristin Stammer advising on intellectual property aspects, Linda Evans advising on competition aspects, Charlotte Henry on banking regulatory aspects, Drew Pearson on employment aspects, Ian Reid on separation with lead M&A senior associates Caitlin Walker, Lucinda Grant and Amelia Morgan supporting the M&A aspects of the transaction. The Alternative Legal Services (ALT) Team supported with due diligence and data room support.

Matt FitzGerald noted, “It was wonderful to again work closely with Suncorp’s legal and business development team on an M&A deal of this size and scale. We congratulate the Suncorp team on reaching the signing of this landmark transaction.”

Tony Damian commented, “This important deal demonstrates the resilience of the Australian M&A market.”

Herbert Smith Freehills worked with Suncorp’s legal team headed by General Counsel Belinda Speirs, Executive Manager, Corporate Advisory David McManus, Executive Manager, Bank Advisory Tarnya North, and Senior Corporate lawyers Andrew Phillips and Laura Steele.

Herbert Smith Freehills, with a team led by Matt FitzGerald, has previously advised Suncorp on the sale of its life insurance business to TAL Dai-ichi Life.

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