Top tier firm joins ‘the voice of the banking industry’

by Hannah Norton22 Apr 2015
The New Zealand Bankers’ Association (NZBA) announced this month Russell McVeagh has joined MasterCard and Buddle Findlay in affiliate membership.
Speaking to NZLawyer, NZBA chief executive Kirk Hope said the move demonstrated the firm’s commitment to the banking industry in New Zealand.
“We are very pleased to have Russell McVeagh, one of New Zealand’s leading commercial firms, join us as an affiliate member.”
The membership formalised a longstanding relationship with NZBA and its members, Russell McVeagh finance partner Deemple Budhia said.

“We're very pleased to join the voice of the banking industry in New Zealand as an affiliate member, and look forward to supporting its objectives for a strong and stable banking system that benefits New Zealanders and the economy.

“We look forward to being an active contributor to this highly regarded organisation.”
NZBA’s affiliate membership was about ensuring the banking industry and the businesses that provide services to the industry are more closely connected, Hope said.
“This happens in three ways – through networking, through strengthening and building relationships and through information services.”
Businesses that are service providers to the industry could make an application to the association to become an affiliate member; which would then be reviewed by the association’s Council - comprised of chief executives of all member banks.
“The type of business that will be interested in an affiliate membership is one who will have had a long association with either the Bankers’ Association itself, by providing services to us, or to our members,” Hope told NZLawyer.
Member banks of the association include ASB, Westpac, ANZ, Bank of China (NZ), BNZ, The Bank of Tokyo-Mitsubishi, Citibank, The Cooperative Bank, Heartland Bank, HSBC, JP Morgan, Kiwibank, SBS and TSB.
Buddle Findlay became an affiliate member of the NZBA on March 31 this year.
Buddle Findlay partner Adam Jackson said the firm was delighted to join.
“The arrangement strengthens our already close relationship with the banking sector and helps build on our commitment to providing a range of legal services and advice to New Zealand banks.” 

Established in 1891, the New Zealand Bankers’ Association provides a forum for members to work together on non-competitive industry issues. The Association now has 15 member banks and three affiliate members.

NZBA recently introduced an affiliate membership category to allow the Association to formalise relationships it has with a range of complementary organisations involved with the New Zealand banking industry.

The association is still taking applications from firms interested in affiliate membership, Hope said.