US-based fund teams up with Azman's AMMB?

AmBank chairman Tan Sri Azman Hashim said AmBank realises that the country's financial services market is rapidly evolving, and customers have become far more sophisticated.

PETALING JAYA: Several foreign funds including US-based equity fund TPG Newsbridge are courting AMMB Holdings Bhd chairman Tan Sri Azman Hashim with the view of buying up Australia and New Zealand Banking Group Ltd’s (ANZ) block of shares in the Malaysian banking group, according to sources.

The funds, especially TPG, want exposure to the local banking sector with a possibility of going regional.