News in brief: ASB Bank appoints new BDM

by NZ Adviser11 Nov 2015
ASB Bank appoints new BDM 
ASB Bank has appointed a new broker business development manager to the third party banking team.

Glenn Tasker brings many years' experience in finance, leasing and banking industries to the role, with a focus on developing and managing intermediary relationships.

He says he is pleased to join the team and be working in an industry experiencing rapid growth.

“I’m excited by ASB’s commitment to a new role to support brokers and customers and the opportunities this presents.”

Tasker's previous role was with the ASB business banking team in a business development role.

Deutsche bank leaves NZ
Deutsche Bank announced on Friday that it will close its New Zealand operations as part of global cut backs.

But it isn't a complete withdrawal from the market because of its interest in Craigs Investment Partners and its ability to serve local clients from Australia, the the Institute of Finance Professionals New Zealand (Infinz) has said according to BusinessDesk.

29 local staff will be affected by the bank's cut backs, in which it will also exit from 10 countries and cut 26,000 jobs worldwide to reach gross savings of 3.8 billion euros by 2018.

Deutsche posted a third-quarter loss of 6 billion euros and its announcement comes a week after Goldman Sachs said it would shift its New Zealand securities trading business to Australia.

Reserve Bank apologises over stolen tukutuku panel design on new bank note
The Reserve Bank's governor has apologised for wrongly attributing a panel design on the new $10 note to a Gisborne wharenui, housed at Te Papa Museum, the NZ Herald reports.

Governor Graeme Wheeler said in a statement yesterday that the panel was a "generic East Coast design" and that with the support of the trust the bank hoped "to discover more of the history of the panel and its weavers."

Although the design - from a tukutuku panel inside the Te Hau ki Turanga meeting house - has been on New Zealand money for 22 years, the panel is not originally from the wharenui and the bank is now working with its custodian - the Te Hau ki Turanga Trust - to learn more about the origins of the tukutuku.

Trust spokeswoman Robyn Rauna said last week the bank's use of cultural property without permission was a concern and a lawyer representing the group had contacted the reserve Bank.

"Our people's expectation is that we are doing what we can to protect and safeguard our taonga. That's what we have an issue with - that they have attributed the panels to Te Hau ki Turanga and never sought our tribal consent," Rauna said.

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