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Industry farewells Faafoi, welcomes new commerce minister

Industry leaders farewell Kris Faafoi from his position as commerce minister and say that they are excited to form a new partnership with the next Labour minister of commerce.

Monday, November 2nd 2020, 3:36PM 1 Comment

by Daniel Smith

David Clark

A widespread reshuffling of ministerial portfolios was announced today by Prime Minister Jacinda Ardern.

One of the key changes in cabinet was that the commerce portfolio went from Kris Faafoi to David Clark. Clark will be handling the commerce, consumer-affairs and state-owned enterprises portfolios, making his return to cabinet after resigning from the health portfolio before the election.

Katrina Shanks, the CEO of Financial Advice NZ has said that, “we have enjoyed working with minister Faafoi in the past. He has been passionate about the financial services sector and uplifting public confidence and working to make sure more New Zealanders can access financial advice. We are looking forward to working with minister Clark so that we can continue the good work that Kris Faafoi has begun.”

Richard Klipin, CEO of the Financial Services Council offered his “congratulations to minister Faafoi. He has been a fantastic advocate and steward of the sector over a significant period of change. We have enjoyed working with him and we wish him well. We would also like to welcome minister Clark to the portfolio. We look forward to working with him in a really constructive way in the interest of all New Zealanders.”

Tags: David Clark government

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Comments from our readers

On 3 November 2020 at 8:16 am Skeptical said:
Hopefully mountain biking isn't on the agenda during the rollout of FSLAA.

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AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.09 3.25 3.39
ANZ Special - 2.49 2.69 2.79
ASB Bank 4.45 2.49 2.59 2.65
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.49 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.09 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
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China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.45 ▼2.45 ▼2.65
Kainga Ora 4.43 2.93 3.07 3.24
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.30 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
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SBS Bank Special - 2.49 2.65 2.75
The Co-operative Bank - First Home Special - - - -
The Co-operative Bank - Owner Occ 4.40 2.49 2.69 2.79
The Co-operative Bank - Standard 4.40 2.99 3.19 3.29
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Westpac - Offset 4.59 - - -
Westpac Special - 2.49 2.69 2.79
Median 4.55 2.94 3.07 2.80

Last updated: 23 November 2020 12:23pm

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