ANZ and Suncorp have reached agreement with the Queensland Government on a jobs and investment package that will form part of ANZ’s acquisition of Suncorp Bank. ANZ chief executive Shayne Elliott said in a statement that the bank has committed to developing a “major tech hub” in Brisbane for technology specialists in digital, cloud and data. It has committed to hiring 700 people over five years. The bank will work with Google to provide cloud training to tech hub employees and it will work with Queensland universities to generate research and training in technology. For its part, Suncorp has committed to ensuring employment levels for the Suncorp insurance business and group corporate services are higher in Queensland than any other state or territory. It will also establish a “disaster response centre of excellence” in Brisbane, increase its disaster response team and build a “mobile hub” that can be deployed in areas hit by natural disasters. The company will add jobs in regional Queensland and fund a range of community and educational programs. These commitments are conditional on the successful completion of the merger. The agreement paves the way for the Queensland government to amend the State Financial Institutions and Metway Merger Act 1996, so that its provisions would only apply to the retained insurance businesses of Suncorp Group. Queensland Treasurer Cameron Dick said on Friday that he is confident the agreement will ensure “the [Suncorp Group] head office is secured for Queensland in both form and substance.” The ACCC is due to release its determination on the competition implications of the merger by late next month. The parties said that if they get the required approvals the merger will be completed by the end of the year.