Interview Andrew Thorburn Managing Director and CEO BNZ

Andrew took up the roles Managing Director and CEO at the BNZ in October 2008. He was previously Executive General Manager of Retail Banking at National Australia Bank (NAB) leading a team of more than 10,000 people, located across 750 stores, servicing over 3.3 million customers.

Andrew brings both a breadth and depth of experience to the role. With over twenty years in the industry, he has extensive experience both sides of the Tasman: ten years at ASB in New Zealand, followed by senior roles at CBA, St George and NAB in Australia.

Previous roles have been in retail, marketing and strategy, building a cross-discipline understanding of the industry and the business. He was a Director of MLC from 2005-08, the wealth management division of NAB is one of Australias largest investment and insurance companies.

Andrew has a great affinity for New Zealand, with strong family ties here. He graduated from Auckland University with a Bachelor of Commerce (Economics). In addition, Andrew completed a Masters in Business Administration from the University of Durham in the UK. During his ten years at the ASB he travelled the length and breadth of the country developing a sound understanding of the issues facing both urban and rural New Zealand.

He has relocated back to New Zealand with his wife and three teenage children. A committed family man, he has a personal philosophy of maintaining good work life balance. Andrews interests include music (part-time drummer), a wide range of sports, reading and politics.

Category:

News & Politics

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• bnz
• interview

[lonejafa]

pffft a hired Aussie gun riding into town to shake up the kiwis

[keithholden]

Bank losses.

The banks loaned to easy credit.

This inflated the house prices

We borrowed equity from the inflated prices.

We spent this equity into the economy, creating a boom in retail sales, travel, tourism

Now the house prices have started to fall.

We cant borrow equity, we NOW have to pay the interest on the equity we borrowed previous.

This is causing a massive drop in retail sales.

Which is causing rising unemployment, which further reduces retail sales.

[keithholden]

The goverment tried to boost ecomomy by spending and tax cuts from borrowed money.

The interest on this borrowed money will have to be paid by you the tax payer.

The goverment has no money, it can only take from someone and give to someone else.

You will find taxes rising, like traffic fines. car rego and many others.

The yeild (interest) on the bond market in USA is rising. this means rising interest rates here.

Further supressing the economy.

This is a depression which cant be fixed