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New Marac CEO a former ANZ National senior executive
Marac Finance CEO Brian Jolliffe will be replaced by former ANZ National senior executive Jeff Greenslade at the end of April. Jolliffe had announced his retirement from Marac in October last year, after spending nine years there as CEO.
Greenslade was formerly ANZ National's Managing Director of Corporate and Commercial Banking before moving to running his own business, Provisional Tax Finance, for the past two years. He will be leading Marac's push to become a registered bank in New Zealand.
"We conducted an international recruitment search and are very pleased to be appointing Jeff, with his unique experience in the New Zealand banking environment and his broader commercial background. Jeff will also be leading the team to complete the banking license process and, assuming success, will be the new Chief Executive of the bank," Marac chairman Sam Maling said.
Greenslade holds a Bachelor of Laws from the University of Otago.
Well Im back after a
Well Im back after a cup of tea ,Now I need to do some translating.
What this is sayin without the bull, is.
Oh dear' Marac are in trouble, they owe us, the ANZ a small fortune. We have placed our own man at the top. We need to fast track the move to get a banking license, so we can milk the tax payer via the TAF scheme and get our money out. Thank god that Mr Bollards main aim is to keep the banking system safe or god knows what would happen.
We wont mention our exposure to the Investment bank that starts with Mac, hopefully nobody will notice the smell. Unlike the NZ Dairy industry that seems to have got sh*t not only in the rivers but all over our suits too.
Andrewj With respect, here's a
Andrewj
With respect, here's a few things to know about Marac Finance. It has a borrowing facility for up to NZ$480 million with all four banks, including ANZ National, ASB, BNZ and Westpac. Here's my 5 Survivability Factors for finance companies from last June. Marac Finance has all 5 factors.
http://www.interest.co.nz/ratesblog/index.php/2008/06/26/the-5-survivabi...
Jeff Greenslade has not worked for ANZ for years and I'm sure he's not an agent of ANZ and would deny this.
If you any evidence of ANZ's relationship with Maquarie Bank, please share it with us. I have not seen any credible evidence to suggest there are any problematic (ie life-threatening) ANZ loans to Macquarie. Suggesting it does not make it so.
Finally, Marac is very upfront about seeking a license and has been seeking one publicly since well before the imposition of the government guarantee in October last year.
Kind regards
Bernard
But, no argument about the
But, no argument about the sh*t in our rivers and all over our suits too!
:-)
Bernard I may have been
Bernard I may have been confusing finance companies Apologies to all concerned.
However I dont agree with your evaluation of this type of company. The forestry industry is in strife. Its like a car lease company that gets $1000 a month for a 40k car after 2 years its owed 25k but today the car is worth 15k. In the case of expensive forestry and excavation machinery this applies, but with out work its pretty much worthless.I getting paranoid about banks trust has disappeared .Im looking for wolves in every shadow.Im pretty sure there was a good piece about Pgg Wrightson and in there was the investors of this company.
sorry andrew