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Jarden Group
Company typePrivate company
IndustryFinancial services
Founded1961
FounderRon Jarden
Headquarters
Commercial Bay, Auckland
Key people
Fraser Whineray (Executive chairman)
ProductsInvestment banking
Securities brokerage
Securities research
RevenueIncrease NZ$306M (2024)
Websitewww.jarden.co.nz

Jarden (formerly FNZC, or First New Zealand Capital) is an Australasian investment banking, wealth management and financial services firm based in New Zealand.

Jarden is headquartered in Auckland and operates regional offices across New Zealand, with a growing investment banking presence in Sydney and Melbourne.[1]

History

[edit]

Jarden was founded in 1961 by Ron Jarden as R.A. Jarden & Company.[2]

In December 2000, the firm was named Credit Suisse First Boston and later renamed to FNZC after a management buyout.[3] In March 2019, FNZC rebranded to Jarden to honour founder Ron Jarden.[4][5]

In Feb 2022, Jarden signalled interest towards an acquisition of Kiwi Wealth, a default provider for the KiwiSaver saving scheme owned by state-owned Kiwi Group Holdings.[6] Kiwi Wealth was eventually sold to Fisher Funds for $310 million in August 2022.[7]

In March 2023, CEO James Lee stepped down after 6 years in the role. In his place, Aidan Allen and Sarah Rennie were appointed Co-CEOs of investment bank and Malcom Jackson as CEO of Jarden Wealth and Asset management.[3]

In December 2023, Jarden restructured its wealth management division, forming FirstCape in partnership with BNZ, JBWere, and Harbour Asset Management,[8] creating a firm with $44 billion in managed funds.[9][10]

According to the Australian Financial Review, as of April 2024 Jarden's Australian business turned its first profit of A$18.4 million.[11]

In June 2024, Fraser Whineray, former chief executive of Mercury and chief operating officer of Fonterra, took over as executive chair of Jarden Group board, succeeding Bill Trotter, who stepped aside after 22 years in the role.[12][13]

References

[edit]
  1. ^ "About Jarden » Jarden". www.jarden.co.nz. Retrieved 27 September 2024.
  2. ^ "FNZC no longer – Good Returns". www.goodreturns.co.nz. Retrieved 27 September 2024.
  3. ^ a b "James Lee leaving investment firm Jarden". NZ Herald. 27 September 2024. Retrieved 27 September 2024.
  4. ^ "Investment bank to adopt name of All Black founder". NZ Herald. 22 September 2024. Retrieved 22 September 2024.
  5. ^ McBeth, Paul (20 March 2019). "First NZ's return to Jarden moniker part of bigger role". Newsroom. Retrieved 27 September 2024.
  6. ^ "Kiwibank review: Jarden makes move for Kiwi Wealth". NZ Herald. 27 September 2024. Retrieved 27 September 2024.
  7. ^ "Fisher Funds buys Kiwi Wealth for $310m". RNZ. 15 August 2022. Retrieved 27 September 2024.
  8. ^ https://www.harbourasset.co.nz/
  9. ^ "FirstCape: New investment entity will manage $44b worth of funds". RNZ. 14 December 2023. Retrieved 22 September 2024.
  10. ^ "Jarden, NAB form FirstCape including Harbour – Good Returns". www.goodreturns.co.nz. Retrieved 27 September 2024.
  11. ^ "Jarden's local investment bank turns profit after heavy cost cuts". Australian Financial Review. 16 April 2024. Retrieved 22 September 2024.
  12. ^ "Jarden's Bill Trotter steps aside, another Whineray steps in". NZ Herald. 22 September 2024. Retrieved 22 September 2024.
  13. ^ "Jarden appoints Fraser Whineray as chair". NBR | The Authority since 1970. 19 June 2024. Retrieved 27 September 2024.

Category:Financial services companies of New Zealand Category:Companies based in Auckland Category:Privately held companies of New Zealand