Nationwide trustee and financial services company Perpetual has opened a Hawke's Bay branch, to be headed by Havelock North lawyer John Baker.
Perpetual chief executive Patrick Middleton said the decision to close the office in the 90s was, in hindsight, not in the best interests of Hawke's Bay.
"Our presencein Hawke's Bay offers convenience and broader oversight to people looking for a comprehensive range of financial services - from wills and enduring powers of attorney and trust planning and management to financial planning and management," he said.
"We are experiencing a time where markets are exhibiting a high degree of connectivity - what affects Europe or the Middle East also affects the US and New Zealand. In addition to this, locally we have recently seen major changes in the estate planning environment. For these reasons, it's important that people are getting the right advice from the right people."
The Havelock North office adds to Perpetual's growing presence in the North Island - the 125-year-old company has offices in Auckland, Tauranga, New Plymouth, and Wellington.
"Perpetual is one of the oldest authorised trustees in New Zealand. We have been providing trustee services for over 125 years, originating in Dunedin and now spread across New Zealand with our 10 offices nationwide," Mr Middleton said.
Mr Baker's role will be managing solicitor. He has worked in legal and financial services in Hawke's Bay for 40 years. Previously he managed the Havelock North branch of law firm Bate Hallett and managed financial planning firm Spicers' Hawke's Bay office.
His legal practice has been focused on providing trusts, wills and personal asset planning which he'll continue to do.
"The laws and rules around trusts have changed considerably in recent years - particularly with the abolition of gift duty which came into effect late last year," Mr Baker said. "It is important that people understand the new rules and how they can best structure their investments and assets."
