New Zealand -
GROWING PRESENCE
6
1
bankers on the spot
WHAT S NEWS Issue 9 September 1996
1
F.l.t.r. (back row) Alister Bennett, Mike
Walter, Don Kennedy, Bev Walters, Andrew
BurnsRachael Wright, Henk Visser, Bryan
Inch, Peter McLeod, Darren Hay, (kneeling)
Jaap Klep, Henk Gentis, Cor Broekhuyse.
The bank's rural lenders are anything but new to the New Zealand
market. And, in fact, Rabobank as corporate banking partner is not new
either. What is new is our presence in both capacities as Rabobank New
Zealand branch. Launched officially on August 28, we ask head of
corporate banking and New Zealander, Dean Clark, what the bank can
expect from this market.
New Zealand exports, and half of all
those exports are agri-based. And because t
this is a very small market, you'11 find that
many of our rural colleagues' primary
clients are also directors of major
agribusiness companies here. So, you see,
it is vital for both divisions to work very
closely together.'
UNDER ONE NAME
This is perhaps the reason why the bank
in New Zealand has opted to operate
under a single name, rather than
continuing to use both P1BA and
Rabobank. Although this distinction will
remain in Australia, where the PIBA brand
name enjoys major recognition, the rural
lending teams in New Zealand will
continue to build their cliënt base, but
under the Rabo flag. A massive
advertising eampaign was launched to
familiarize existing clients with the name
change. The idea is to get across the
bank's global position as specialized food
and agribusiness bank - not only on
national expertise, but also the kind of
international know-how essential for an
export-oriented market.
SECTORAL AFFINITY
But let us get back to the actual market
itself. As Clark noted, both divisions of the
NZ operations will be working together
for increased cross-selling opportunities.
Division is perhaps rather a large word for
the bank's two teams. The rural division
currently has 12 staff at four locations on
New Zealand's North and South Islands.
The corporate team comprises three
people based in Auckland on the North
Island. Clark, Philip McKinstry and
Michelle O'Neill have been on site only
since April. 'In view of what I've just said
about close cooperation between
divisions, we need corporate bankers here
with an affinity for the primary sector. I
Fd.t.r. Philip McKinstry - Assistant Manager, Corporate Banking, Michelle O 'Neill - Personal
Assistant, Corporate Banking, Jaap Klep - General Manager, Dean Clark - National
Manager, Corporate Banking Structureal Finance.
'Put us in the picture about New Zealand',
was the question we asked Dean Clark.
He came up with a number of facts and
insights that were as surprising as the
market he and his colleagues in both the
rural and corporate divisions are
targetting. 'What you have to know about
this country is that what we call 'rural'
business, which is our name for the
primary sector both here and in Australia,
and corporate banking are inextricably
linked. Agribusiness is a fundamental part
of the New Zealand economy,
representing almost 15.5 percent of GDP,
of which farming accounts for 7 percent
and fishing and forestry 3 percent.
Another factor you have to understand is
that this is a very small market. Ten
companies account for 80 percent of all
