Gareth Vaughan | interest.co.nz

About

Gareth is editor of interest.co.nz and has worked for more than 20 years as a financial journalist in New Zealand and the United Kingdom. He has received awards in the EY Business Journalism Awards, Canon Media Awards, and Shareholders' Association Business Journalism Awards.

Member for

15 years 3 months

Latest articles

Govt should 'reduce the need for major banks to provide uneconomic services'

Macquarie analysts suggest Australasia's under fire major banks could save hundreds of millions of dollars by slashing branch numbers by 40%

23rd May 18, 1:40pm

by Gareth Vaughan

Macquarie analysts suggest Australasia's under fire major banks could save hundreds of millions of dollars by slashing branch numbers by 40%

New BNZ executive appointments include Russell Jones joining from ASB

Senior ASB executive Russell Jones shifting to BNZ to become executive general manager for technology and operations

23rd May 18, 1:10pm

by Gareth Vaughan

Senior ASB executive Russell Jones shifting to BNZ to become executive general manager for technology and operations

Commerce Commission wants compensation for Harmoney borrowers

Judge rules Harmoney's platform fee is a credit fee, doesn't accept the 'relative novelty of peer-to-peer lending should preclude the usual application of the CCCFA'

21st May 18, 10:31am

by Gareth Vaughan

Judge rules Harmoney's platform fee is a credit fee, doesn't accept the 'relative novelty of peer-to-peer lending should preclude the usual application of the CCCFA'

BNZ cooperating with MBIE's Labour Inspectorate to resolve Holidays Act issues

BNZ working with MBIE to resolve Holidays Act breaches which include annual and public holiday payments to 'certain employees'

21st May 18, 9:43am

by Gareth Vaughan

BNZ working with MBIE to resolve Holidays Act breaches which include annual and public holiday payments to 'certain employees'

Global debt reaches fresh record high

New IMF Global Debt Database details 'cutting-edge dataset' covering private and public debt for 190 countries dating back to the 1950s

19th May 18, 9:06am

by Gareth Vaughan

New IMF Global Debt Database details 'cutting-edge dataset' covering private and public debt for 190 countries dating back to the 1950s

BNZ using incorrect unutilised credit limits on some loans for 15 years

BNZ unveils two breaches of banking registration that mean it has been overstating its capital adequacy ratios and has restated them, discloses big restructuring provision

18th May 18, 12:43pm

by Gareth Vaughan

BNZ unveils two breaches of banking registration that mean it has been overstating its capital adequacy ratios and has restated them, discloses big restructuring provision

How will our insurers stack up if there's a financial services inquiry?

Any NZ inquiry into the conduct of the financial services sector will require a lengthy and deep probe into the insurance sector, Gareth Vaughan argues

15th May 18, 4:10pm

by Gareth Vaughan

Any NZ inquiry into the conduct of the financial services sector will require a lengthy and deep probe into the insurance sector, Gareth Vaughan argues

'The outlook is getting tougher & the long shadow of the Royal Commission is hanging'

Australasia's big banks have come to the end of a super cycle and face a difficult transition featuring a combination of operating headwinds and regulatory risks, analysts say

15th May 18, 12:41pm

by Gareth Vaughan

Australasia's big banks have come to the end of a super cycle and face a difficult transition featuring a combination of operating headwinds and regulatory risks, analysts say

Explicit depositor protection called for in RBNZ Act review

Financial consultant Geof Mortlock calls for deposit insurance to be introduced in NZ, and for a new regulator to takeover the RBNZ's financial regulation responsibilities

14th May 18, 10:09am

by Gareth Vaughan

Financial consultant Geof Mortlock calls for deposit insurance to be introduced in NZ, and for a new regulator to takeover the RBNZ's financial regulation responsibilities

'People fight harder for a share of a smaller pie'

Housing mortgage rates are more likely to go down rather than up despite increased US dollar funding costs for New Zealand banks

12th May 18, 9:22am

by Gareth Vaughan

Housing mortgage rates are more likely to go down rather than up despite increased US dollar funding costs for New Zealand banks

FMA & RBNZ 'came across as rather desperate'

FMA and RBNZ's response to revelations from Australian financial services Royal Commission appear 'rather desperate' and 'driven by being seen to be doing something'

11th May 18, 1:47pm

by Gareth Vaughan

FMA and RBNZ's response to revelations from Australian financial services Royal Commission appear 'rather desperate' and 'driven by being seen to be doing something'

'A cultural check, and if needed a cultural readjustment, is extremely timely'

'You're in New Zealand,' RBNZ's Adrian Orr tells overseas owned, NZ operating banks, and your behaviour needs to be consistent with our laws and expectations

11th May 18, 9:38am

by Gareth Vaughan

'You're in New Zealand,' RBNZ's Adrian Orr tells overseas owned, NZ operating banks, and your behaviour needs to be consistent with our laws and expectations

ANZ crediting customers about $10m after loan calculator problems

Commerce Commission probes problems with ANZ loan calculator that undercharged interest to about 100,000 customers

9th May 18, 12:39pm

by Gareth Vaughan

Commerce Commission probes problems with ANZ loan calculator that undercharged interest to about 100,000 customers

NZ Royal Commission would be 'big mistake' says Westpac NZ CEO

Westpac NZ CEO David McLean says Aussie Royal Commission chance for NZ to get a free ride, defends vertically integrated banking model, sees increased mortgage market competition

8th May 18, 12:02pm

by Gareth Vaughan

Westpac NZ CEO David McLean says Aussie Royal Commission chance for NZ to get a free ride, defends vertically integrated banking model, sees increased mortgage market competition

Westpac NZ welcomes chance to 'show differences' between NZ & Australian banking environments

Westpac NZ posts increase in half-year cash earnings as income rises and expenses fall. Net interest margin rises 19 basis points

7th May 18, 10:11am

by Gareth Vaughan

Westpac NZ posts increase in half-year cash earnings as income rises and expenses fall. Net interest margin rises 19 basis points

Regulators turn the temperature up on NZ banks

FMA & RBNZ tell banks the window for them to show consumers & regulators they can have full confidence in the NZ financial services industry is narrow with proactive leadership required

4th May 18, 2:33pm

by Gareth Vaughan

FMA & RBNZ tell banks the window for them to show consumers & regulators they can have full confidence in the NZ financial services industry is narrow with proactive leadership required

BNZ providing FMA 'proof points' to prove it's better behaved than Aussie banks

BNZ CEO Angela Mentis says systemic bad bank behaviour happening in Australia is not happening at BNZ, but the NZ bank's not complacent

4th May 18, 9:54am

by Gareth Vaughan

BNZ CEO Angela Mentis says systemic bad bank behaviour happening in Australia is not happening at BNZ, but the NZ bank's not complacent

BNZ posts 18% increase in interim profit

BNZ half-year profit surges to $490 mln as lower funding costs help boost the bank's net interest margin, new CEO says BNZ is not complacent about the issues emerging from Australia

3rd May 18, 10:32am

by Gareth Vaughan

BNZ half-year profit surges to $490 mln as lower funding costs help boost the bank's net interest margin, new CEO says BNZ is not complacent about the issues emerging from Australia

There's no reason to have a NZ Royal Commission yet

Gareth Vaughan probes the FMA & RBNZ's demand for NZ banks to prove they're better behaved than their Aussie parents & concludes the argument for a Royal Commission doesn't stake up at this point

3rd May 18, 10:01am

by Gareth Vaughan

Gareth Vaughan probes the FMA & RBNZ's demand for NZ banks to prove they're better behaved than their Aussie parents & concludes the argument for a Royal Commission doesn't stake up at this point

ANZ wants to 'maximise UDC's price when the time's right'

ANZ NZ understands why the OIO blocked its planned sale of UDC, CEO David Hisco says, and still aims to sell the finance company but isn't in a hurry

3rd May 18, 9:36am

by Gareth Vaughan

ANZ NZ understands why the OIO blocked its planned sale of UDC, CEO David Hisco says, and still aims to sell the finance company but isn't in a hurry

What change will an outsider bring as Kiwibank's new CEO?

Gareth Vaughan expects incoming CEO Steve Jurkovich to bring a new approach to Kiwibank, and fit in well with the state owned bank's NZ Super Fund and ACC shareholders

2nd May 18, 11:59am

by Gareth Vaughan

Gareth Vaughan expects incoming CEO Steve Jurkovich to bring a new approach to Kiwibank, and fit in well with the state owned bank's NZ Super Fund and ACC shareholders

'We're sort of in the game and it is quite competitive out there'

CEO David Hisco says ANZ NZ's lending appetite is 'pretty good for good projects' against a backdrop of reduced market share in home loans & business lending

2nd May 18, 10:51am

by Gareth Vaughan

CEO David Hisco says ANZ NZ's lending appetite is 'pretty good for good projects' against a backdrop of reduced market share in home loans & business lending

'We feel pretty comfortable that we don't have those sorts of horror stories'

ANZ NZ's message to its regulators in the wake of the Australian Royal Commission on Financial Services is 'come and have a look', CEO David Hisco says

2nd May 18, 8:21am

by Gareth Vaughan

ANZ NZ's message to its regulators in the wake of the Australian Royal Commission on Financial Services is 'come and have a look', CEO David Hisco says

Big NZ banks told to prove they are different to their Aussie parents

FMA's CEO Rob Everett & RBNZ Governor Adrian Orr tell NZ's big bank CEOs to prove their banks are different to their Aussie parents

2nd May 18, 7:39am

by Gareth Vaughan

FMA's CEO Rob Everett & RBNZ Governor Adrian Orr tell NZ's big bank CEOs to prove their banks are different to their Aussie parents

'CBA’s continued financial success dulled the senses of the institution'

ASB's parent Commonwealth Bank of Australia gives enforceable undertaking to APRA after prudential inquiry into the bank, has to hold A$1 bln of extra capital

1st May 18, 11:10am

by Gareth Vaughan

ASB's parent Commonwealth Bank of Australia gives enforceable undertaking to APRA after prudential inquiry into the bank, has to hold A$1 bln of extra capital