Private Bank Chooses First NZ Capital

Thursday, 16 December 2004, 3:56 pm
Press Release: Bank of New Zealand

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

Bank of New Zealand

Be good with money

Bank of New Zealand (BNZ) has been a big part of New Zealand life for over 150 years since its foundation in 1861. The bank employs over 5,000 people and has more than 170 retail stores and 32 Partners business centres across the country.

Passionate about enabling a higher achieving New Zealand, BNZ works with personal, business, agri, and private wealth clients, helping them grow and make their goals a reality.

A subsidiary of the National Australia Bank Group of companies, BNZ is governed locally by a Board of Directors and strives to help New Zealanders be good with money.

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