UDC has had its credit rating down-graded following ANZ's announcement it plans to sell the business to a private Chinese conglomerate, and questions are raised about the future of the finance company.

UDC has had its credit rating down-graded following ANZ's announcement it plans to sell the business to a private Chinese conglomerate, and questions are raised about the future of the finance company.

ANZ Bank New Zealand  has agreed to sell its asset finance business, UDC Finance, for $660 million to HNA Group.

ANZ Bank New Zealand  has agreed to sell its asset finance business, UDC Finance, for $660 million to HNA Group.

Garrison Bridge, the superannuation scheme run by Ralph Stewart's Lifetime Asset Management group and Christchurch advisory firm First Capital Financial Services, is chasing QROPs business in Australia.

The Australian regulator has lost a court case alleging the former directors of LM Investment Management had breached their directors' duties.

One of the big international financial planning firms is set to open an office in Auckland this month.

Partners Life founder and managing director Naomi Ballantyne says it is "surreal" to be made a Officer of the NZ Order of Merit (ONZM) in the New Year's Honours list, but something she is very proud to have received.

ANZ has appointed a new managing director Retail and Business Banking to replace the position held by the late John Body.