ASB Strengthens Fixed Interest Offering

Monday, 10 July 2006, 11:40 am
Press Release: ASB Bank

ASB Strengthens Fixed Interest Offering

• Largest debt market participant by NZX turnover centralises retail and commercial teams
• Capitalises on experience and distribution channels
• Enhanced customer offering

ASB has combined the strengths of its commercial and retail fixed income teams, as the demand for debt products continues to increase.

The team will be based in ASB’s Treasury department and will be headed by Lianne Murphy. Lianne has been involved in the fixed income market since 1997, and was a founding staff member at ASB Securities. Sarah Webb is also part of the new fixed interest business and brings strong relationships with brokers and banks in the market.

“By joining the ASB and ASB Securities teams we are consolidating a depth and breadth of experience that provides ASB with a point of difference in the fixed interest markets,” says Lianne. “Our customers will benefit from economies of scale in the products and services we can offer by integrating the retail and commercial fixed interest businesses.”

ASB Securities was ranked number one by dollar value in the NZX’s debt market for the six months to June 30, and Murphy says the combined team will focus on delivering an even more compelling offering to its clients and customers.

“ASB will get the full potential from the existing internal and external relationships and be able to capitalise on the Group’s distribution channels. ASB already has a strong fixed interest offering and this change will allow us to build on that position.”

Ends

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