Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Private Bank Chooses First NZ Capital

16 December 2004

Bank of New Zealand Private Bank Chooses First NZ Capital

First NZ Capital has been chosen to provide custodial and administrative services for the hundreds of millions of dollars in investments that Bank of New Zealand manages on behalf of its Private Bank clients.

Bank of New Zealand’s Private Bank head, Ralf Hohwieler, says the new arrangement – which takes effect this month – will mean First NZ Capital’s ‘Asset Tracker’ system will provide reporting and administrative services to Private Bank.

“Utilising the services of First NZ Capital, Bank of New Zealand will provide clients with reports on the status and value of investment portfolios, and will prompt corporate duties, such as the requirement to provide a tax certificate on behalf of a client.

“Overall, the new arrangement means topline service for our team of Private Bank bankers and, in turn, better service for Private Bank clients,” Mr Hohwieler said.

“More importantly, the First NZ Capital service will provide a basis on which Bank of New Zealand can extend and grow its Private Bank business. I expect First NZ Capital to be a strategic partner for Private Bank over the long-term,” Mr Hohwieler said.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news