Weekly Wrap:

This is the second major change in the firm's investment team this year, the other being the departure of New Zealand equities man Wayne Stetchman.

Tower has been quite remarkable in that its investment team has been together for a lengthy period of time. Often, I notice, is that when one person leaves a team others follow. What will be fascinating to watch is who takes over running the investment business.

A story, which is quite exciting, is the announcement that personal financial management will be included in the school curriculum. It is something I have been keen to see for years. My view is that teaching people about money and how to handle it is a vital life skill, more vital than some of the other stuff taught these days.

The headline act of the week though was the Geneva Finance moratorium vote. As readers will know debenture holders overwhelming supported to defer repayments for six and a half months. What has not yet been revealed - until now - is the size of the vote in favour of the moratorium.