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

 



Reserve Bank: Monetary Conditions Tighten By More And Sooner

The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 2.0 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability... More>>


The Download Weekly: Vodafone FibreX back in court

Vodafone and the Commerce Commission head back to court over FibreX in a week the TCF issues broadband marketing codes that should avoid similar problems in the future... More>>


NIWA: Tonga Eruption Discoveries Defy Expectations
New findings from the record-breaking Tongan volcanic eruption are “surprising and unexpected”, say scientists from New Zealand’s National Institute for Water and Atmospheric Research (NIWA)... More>>

Stats: Quiet Start For Retail In 2022
The volume of retail sales was relatively unchanged in the March 2022 quarter, following a strong increase in the December 2021 quarter, Stats NZ said today... More>>



Finder: RBNZ Survey: 64% Of Experts Say Rising Inflation Will Push More Kiwis Into Debt

Soaring inflation and cost of living pressures will see many households pushed to the financial limit, according to experts... More>>



Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>