Wealth business highlight for Kiwibank boss

Newly-appointed Kiwibank chief executive Steve Jurkovich says the banks wealth management business was the star performer in the 12 months to June 30.

The bank's wealth division, managed $5.5 billion of customer funds and over 198,000 KiwiSaver accounts which at the end of the financial year, and has since broken the 200,000-member mark.

Jurkovich says the division had a "unique philosophy" and its got the receipe right for success. 

During the year Kiwi Wealth gained approval from the Financial Markets Authority to provide personalised digital advice, making it the first financial services provider in New Zealand to be licensed to provide ‘robo-advice’.