Westpac tantrum or no, it faces an NZ conundrum

Jenny Ruth
Thu, 25 Mar 2021

Does Westpac really want to sell its NZ business? And who might buy it?
Jenny Ruth
Thu, 25 Mar 2021
Westpac may be deadly serious about quitting New Zealand after 160 years, but it is at least possible that it's just throwing a tantrum because the pesky NZ banking regulator has been making life difficult for it for quite a few years.Adrian Orr, the governor of the NZ regulator, the Reserve Bank, certainly has history with the Australian banks having previously been chief economist at two of them, Westpac and National Bank, which is now part of ANZ Bank.And Orr was RBNZ's chief economist when RBNZ forced Westpac, which was kicking and...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Pet food millionaire snaffles Taupō racetrack
Pattrick Smellie | Sat, 17 Apr 2021

Tony Quinn is adding Taupō's Bruce McLean Park to the motorsport facilities he already owns at Hampton Downs and Highlands.

Markets Exclusive
Market regulator blasts Australian 'culture of leaks'
Dan Brunskill | Sat, 17 Apr 2021

Leaks are threatening market integrity and should not be tolerated, NZ RegCo says.

The traditional office is dying a slow, painful death
Jehan Casinader | Sat, 17 Apr 2021

The modern workplace has been through various iterations in recent decades, but no one questioned why it existed in the first place.

Partner Content
Highlights from the New Zealand company earnings season

The February earnings season has provided a snapshot of the impact covid-19 has had on different sectors over the last six months and expectations for the year ahead.

Now’s the time to ask hard questions on our future land use

How can we work together to strengthen our economy and support Kiwis to prosper while protecting our natural environment and our climate.