BNZ splits wealth team

BNZ is making changes to its wealth team.

Tuesday, September 11th 2018, 6:00AM

Donna Nicolof

Chief customer officer – consumer and wealth, Paul Carter said the bank’s wealth and private bank offering had gone through extensive growth in recent years, with funds under management now in excess of $5 billion.

That had led him to restructure the operations of what was a new business unit.

"This change will enable further growth and innovation so BNZ can help more people be good with money as they build their wealth over their lifetime."

Donna Nicolof becomes general manager private bank and wealth advisory.

She will be responsible for advice and relationship management for BNZ's private bank and family office clients. She also has direct leadership accountability for BNZ's private bankers, wealth advisers and support teams.

She previously headed the wealth and private bank team.

Peter Forster is general manager wealth, managing the bank's investment products and services, including KiwiSaver, YouWealth, Private Wealth Series and the investment research team.

He is joining BNZ from NAB and MLC in Australia and Asia.

BNZ has expanded its investment research capability, adding expertise with George Thomson (formerly Russell Investments) and Tim O'Loan (formerly Nikko Asset Management) joining Chris Stephens as senior investment analysts under the leadership of Louis Nel.

Carter said there would be no change to the way financial advisers interacted with the bank.

Tags: BNZ