Rabobank NZ to shift head office from Wellington to Hamilton

Rabobank CEO Todd Charteris. Photo / NZ Herald. Photo / NZ Herald.

Rural lending specialist Rabobank New Zealand will shift its head office from Wellington to Hamilton to be closer to agribusiness sector.

The bank said it would progressively move its corporate head office to Hamilton, which it said was one of New Zealand's largest and growing agribusiness regions.

Plans are under way to develop a new, purpose-built agri "centre of excellence" in Hamilton's central business district as the new base for the bank's corporate head office roles, together with staff from Rabobank's current Hamilton office, the bank said.

Chief executive Todd Charteris said the move was an opportunity for the company to support its growth strategy as New Zealand's only specialist food and agribusiness bank.

"With our strong network of food and agribusiness connections, several of our regional offices located nearby and the close proximity of other food-producing regions, we believe moving to the Waikato will set us up for a future of growth alongside our clients," he said.

"Basing our corporate head office closer to food and fibre production in the centre of a major agricultural region is part of our commitment to the rural sector," he said.

"Our corporate team wants to embrace the food and farming mindset, so we can understand the opportunities and challenges farmers face and further develop our offering to meet their future needs."

Rabobank will progressively move corporate head office roles to Hamilton between early 2021 and January 2022, when it expects about 80 roles will be based in Hamilton.

The bank will also retain significant operations in Wellington for the foreseeable future through its IT and operations teams, totalling 70 people.

All up, the bank employs more than 350 people across its network of 32 offices throughout New Zealand.

Staff were consulted before Rabobank New Zealand's board confirmed the move. "We will make this move over the next two years, with the least impact possible on our people and clients and look forward to further introducing ourselves to the communities of Hamilton and the wider Waikato," Charteris said.

The Netherlands-based Rabobank is a cooperative and operates in 38 countries.