ASB is focused on building its wealth and investment business, the bank said when it today released its financial results for the six months ended December 21.

Geoff Bascand has been appointed Deputy Governor and Head of Operations of the Reserve Bank, Governor Graeme Wheeler announced today.

Asteron Life has announced it will partner with medical advice group Best Doctors.

Asteron Life has made some changes to its underwriting team to support growth which has come from last year's product changes.

Troubled finance firm Allied Farmers has been dealt a new blow, with a lender ordering it repay a $500,000 loan, plus interest, within 15 working days.

Westpac has announced it has cut three fixed-term home loan rates, but they may not stay low for long.

Russell Hucthinson reviews the impact of regulations on the life insurance market and comes to some surprising conclusions.

Milford Asset Management is expanding its team of investment professionals to meet growing demand for its funds across the wholesale, retail and KiwiSaver markets.

Improved market conditions over the second half of 2012 have given KiwiSaver growth funds a boost, according to the latest Mercer survey.

Ross Asset Management did not have the cash to keep up with customer withdrawals over the past five years, its receivers say.

The United States' final Foreign Account Tax Compliance Act (FATCA) regulations have produced a “workable outcome” for New Zealand superannuation and KiwiSaver funds, according to PwC.

The Financial Markets Authority says six directors of Strategic Finance are likely to have breached the Securities Act.
 

Westpac’s focus on cross-selling has seen the percentage of its customers with wealth products increase to 23.4%, up from just  17.3% at the beginning of 2011.

Two more directors of Capital + Merchant Finance have today entered guilty pleas to three charges laid by the Financial Markets Authority.

ASB says there is a growing possibility the Reserve Bank may use macroprudential tools soon, to enable it to leave the official cash rate on hold until the first quarter of 2014.

The Kiwi dollar may hit US90c before the end of the year, putting even more pressure on exporters.