Kiwibank consolidates KiwiSaver scheme under Gareth Morgan banner

Wed, 08 Aug 2012

By Hannah Lynch Aug. 9 (BusinessDesk) – Kiwibank, state-owned New Zealand Post’s lending subsidiary, is consolidating its KiwiSaver scheme within its newly acquired Gareth Morgan Investments business. In January, Kiwibank extended its share of the funds management market by purchasing GMI for an undisclosed sum. GMI, which was set up by economists Gareth Morgan and Andrew Gawith, manages some $1.3 billion in funds in KiwiSaver, superannuation and private investment schemes. The intention is for members of the existing Kiwibank scheme to tran...

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