We were joined today by New Zealand’s Deputy Prime Minister and Finance Minister Bill English at the reopening of our Wellington office, which has been refreshed as part of our ongoing commitment to both Wellington and New Zealand.
Since the global financial crisis, our business in New Zealand has grown by over 50%, making it one of our fastest-growing markets globally. In the last three years, we have more than doubled our corporate client base here, with the Bloomberg Professional service enabling an increasing number of leading companies to manage their exposures in areas such as foreign exchange.
As a result, we are increasing our New Zealand-specific product development in areas our clients tell us they need support, such as Equity, Fixed Income and Electricity asset classes.
Our growth is reflected in the increasing health of New Zealand’s financial sector. One of the most-read Bloomberg News stories out of our Wellington bureau last year reported that Kiwis working in banking and finance overseas were being lured home by improving job prospects. Their return is an encouraging trend for the industry. It also augurs well for the next generation of financial professionals, which we’re supporting, with the Bloomberg Professional service in New Zealand universities.
Bloomberg prides itself on combining global reach with local presence, and we are in a unique position to help companies the length and breadth of New Zealand connect with international financial markets.
A good example can be found in Christchurch, where the rebuilding effort has been such a catalyst for recent economic growth. One of our clients there is a corporate treasurer. He works in a one-man office on the outskirts of the city but told us how plugged in he now feels to both the New Zealand market and the global economy because of Bloomberg.
Whether we’re dealing with our largest or smallest customers, our aim is to be a true partner to New Zealand’s financial and business community. That’s not an abstract mission statement; it’s something we do in markets around the world, every day.
Contributed by Jeffrey Leckstein, Head of Sales for Australia and New Zealand, Bloomberg.