TSB Bank buys 26pc share of Fisher Funds

Last updated 11:32 26/02/2013

Relevant offers

Taranaki's TSB Bank has today made moves to further extend its iconic brand and market share.

New Zealand's only locally owned Bank has bought a 26 per cent share in wealth management high-flyer Fisher Funds.

Today's news follows the announcement of Fisher Funds' purchase of Tower Investments' KiwiSaver and wealth management portfolios.

Fisher will have more than $5 billion under funds management and will be New Zealand's fifth largest KiwiSaver provider following the buy.

TSB Bank chief executive Kevin Murphy buy reflected the bank's ongoing quest to meet the changing financial needs and expectations of customers.                                                                                             
"Wealth management and retirement savings in particular have become increasingly important to New Zealanders. While we have some involvement in the KiwiSaver market now, this partnership will allow us to broaden the benefits we can provide to our customers."

Fisher Funds boss Carmel Fisher said she was delighted to have joined forces with the Bank.

"In seeking a partner to join us in this acquisition, TSB Bank was an obvious choice. We both have a commitment to high quality service, we're both locally owned and we are both nimble with a  history of being entrepreneurial."

Ad Feedback

- Taranaki Daily News

Special offers
Opinion poll

Is high tea at a funeral parlour your cup of tea?

Yes, it's fun and even educational.

Hmmm, I don't object but it's not for me.

No, it's macabre and in bad taste.

Over my dead body ...

Vote Result

Related story: High tea... in a funeral parlour

Featured Promotions

Sponsored Content

Follow the Taranaki Daily News on Twitter

Get Taranaki's frequent news and sport updates

TDN North Taranaki Midweek

The North Taranaki Midweek's online

Get your mid week news fix

TDN South Taranaki Star

South Taranaki Star online

Get your South Taranaki news online