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ING-backed research house Financial Facts will close its doors by the end of this year.
The announcement was made on September 25, the last working day before the announcement of ANZ’s acquisition of the remaining 51 per cent of the bank’s joint venture with ING.
The research house has serviced ING-aligned dealer groups since 2007, prior to which it was known as ING Research. It has been led by respected researcher Margaret Callinan, supported by research manager Jeremy Graham-Higgs and analysts Fawaz Rashid, Andrew Athas and Hamish Bell.
“Since its launch Financial Facts has managed to successfully guide the ING-aligned dealer groups through the most tumultuous period in our lifetimes. We hope that future research providers will be able to continue this legacy and wish them all the best,” correspondence from the research team said.
The team at the research house will continue to operate in their current positions until Christmas, including completing a number of reports and reviews.
“Beyond that date we cannot presently state what arrangements will be made to replace the research function for our client base,” the letter stated.
