ANZIFF and CII Group merger

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A merger between two Australasian companies will create the largest professional body dedicated to financial services in the world.

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The CII Group will be joining forces with the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to create the Chartered Institute of Financial Services (CIFS).

Joan Fitzpatrick, chief executive of ANZIIF, said that the merger reflected a shared vision from both organisations.

She explained: "Both ANZIIF and the CII strive to represent the professionalism of our members and the high standing of the insurance and financial services industries in the community.

"As a merged organisation, rather than duplicating effort, the single entity will be able to focus on the key challenges of the industry and the needs of the membership."

There will be 105,000 members across 170 countries once the merger is complete. The merger is subject to a vote of the members of both bodies. The vote is due to take place on January 28th 2009.

ANZIIF said that the organisation will be "the pre-eminent membership body for our industry, championing global standards and recognition for insurance and financial services professionals around the world".