Under the acquisition deal ANZ has use of the ING name for 12 months, until November this year when it has to rename the business.

ANZ has decided that the specialist wealth businesses will be best positioned for success with its own distinct brand identity, name and logo and with strong endorsement as part of the broader ANZ Group.

Many had thought the business would simply come under the ANZ brand.

"The decision to continue with a specialist brand identity has been an important one for ANZ and for the ING wealth businesses," ANZ chief executive Jenny Fagg says.

"Fundamentally, it recognises that successful wealth businesses need to be positioned as specialists in the eyes of customers and of key intermediaries such as financial planners."

She says the decision also supports the bank's strategy to grow its wealth business.

"(It) will place us in a strong position to deepen the relationship with our customers and grow distribution through the independent financial advisers and aligned adviser channels. "

The bank is now working a new name, brand and visual identity for ING.

ANZ already operates a "family of brands" including The National Bank, UDC, Bonus Bonds, EFTPOS New Zealand and Direct Broking.

ANZ will continue to operate its Private Banking and Wealth business and ING New Zealand will remain a wholly-owned subsidiary of ANZ New Zealand.