Company Profile

NZF Group Limited Company Profile

Company History

NZF Money Limited commenced trading as New Zealand Finance Limited (NZF) in 1997 and listed on the New Zealand Stock Exchange in 2004 as New Zealand Finance Holdings Limited (NZFH). NZFH later changed its name to NZF Group Limited (NZF Group) to more accurately reflect the business as a broad range financial services company.

The three founding directors (John Callaghan, Mark Thornton and Pat O’Connor) are still key shareholders in the business. Mark and Pat also remain as Directors and Mark is Chief Executive Officer. The majority of shares in NZF Group are held by the three founding shareholders and other people associated with the business.

Our Vision

NZF Group’s vision is to be “a leading provider of financial services for hard working Kiwis”.

From the establishment of the business, the vision has always been to build a successful financial services business slowly but surely. While this conservative strategy led to growth that was slower than our competitors, the events in the finance industry over the last few years are testament that this approach was correct and has enabled NZF to succeed in the good times, but more importantly, survive the bad.

Company Structure

The NZF Group provides a diverse range of financial services and can be broken up into five distinct areas:

  • Home Loan products – NZF provides a range of Home Loan products that are funded by a wholesale facility of $225m from Westpac. These are secured solely by residential first mortgages. The majority of loans are reinsured by a third party reinsurer, Genworth Financial Services (a US established company).
  • Short term property based loans that are provided by NZF and funded predominately by first ranking debenture stock.
  • Secured term investments (debenture stock) – NZF has developed a range of retail secured term investments that partly fund its short term property loans and are offered directly to the public or via it’s network of independent Investment Advisers/Financial Planners.
  • Distribution and marketing capability results the acquisition by NZF Group of Mike Pero Mortgages (the largest mortgage broking business in New Zealand) for which NZ Group has a 50/50 joint venture with JV partner Liberty Financial of Australia. Mike Pero provides NZF with access to a large distribution network for its financial services products such as; Property Finance and Home Loans. NZF has also developed an extensive network of independent mortgage brokers, broker groups and Investment Advisers/Financial Planners to distribute NZF’s products.

Subsidiaries and Joint Ventures

MPMH Limited

In 2007 NZF Group entered into a 50/50 joint venture with Liberty Financial (now Secure Funding Limited) to make a takeover offer for all the equity securities in Mike Pero Mortgages. At the time NZF Group owned 74.7 % and Secure Funding 19.9 %. Secure Funding Limited is Australasia’s leading independent speciality finance group. NZF Group formed a new entity MPMH Limited with Secure Funding for 50/50 ownership.

Mike Pero Mortgages was established in 1990 and is New Zealand's largest mortgage broking company. They have offices in Whangarei, Auckland, Hamilton, Tauranga, Gisborne, New Plymouth, Hawkes Bay, Palmerston North Wellington, Nelson, Marlborough, Christchurch, Timaru, Queenstown, Alexandra, Dunedin and Invercargill.

Each year, the company process in excess of $1 billion in loans and have over 70,000 customers.

Mike Pero Mortgages has become a household name and in a survey conducted by Colmar Brunton (Sept 09) 51% of New Zealanders who could name a mortgage broker said Mike Pero Mortgages was the first name that came to mind.

Mike Pero Insurance supports the Mike Pero Mortgage brokers customers by offering both Life & Disability as well as Genenal insurance solutions to their customer base. Thus increasing the number of products customers can access via the Mike Pero business and diversifying the income streams.

In February 2011, Mike Pero Real Estate business was announced to the market and will be launched later in the year. The service will leverage the Mike Pero brand and intends to deliver a more competitive commission structure to vendors.

The company's goal is to deliver the highest standard of service to customers in all respects.