BNZ gets serious with investment and insurance
Bank of New Zealand Financial Services Group (FSG) has been renamed BNZ In-vestments and Insurance (BNZII).
Bank of New Zealand Financial Services Group (FSG) has been renamed BNZ In-vestments and Insurance (BNZII).
According to BNZII general manager, Rodger Murphy, the new name is more closely aligned with its business activities.
“The entire Bank of New Zealand group is in the business of providing full financial services from home loans to managed funds and clearly BNZII is only part of that,” Murphy says.
He says the new name makes that distinction clear and lets the market know BNZII is serious about growing its investment and insurance division.
“We’re letting the customers know that the bank can offer these products, which many still don¹t realise,” Murphy says.
“There is also a link with the new name of the National Australia Bank global um-brella group - Investment, Insurance and Superannuation - that handles these prod-ucts.”
However, Murphy says while the NAB change fits in well with the BNZII name the timing was coincidental with the impetus for the BNZ change coming from New Zealand.
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