19 Jan 2015

Business Briefs

7:20 pm on 19 January 2015

NZX acquires SuperLife

NZX says it has completed the $20 million purchase of the superannuation and passive funds manager, SuperLife.

The stock market operator said it bought the firm with $10 million in cash, funded by a new bank-debt facility, and a further $10 million by issuing shares.

NZX said further payments of up to $15 million might be likely, depending on the growth of SuperLife's funds under management over three years.

Simon Power to step down

Separately, NZX says Simon Power will step down from its board at the annual meeting in May.

NZX said his decision followed an assessment that there might be potential conflicts of interest with his role as general manager of Westpac's private wealth management business and as a director of NZX.

Study finds most unhappy at work

An online study by the job website, SEEK, says 76 percent of people are seeking a new job, or were monitoring the market to see what's out there.

But the study found the actual number of people that would change jobs would be smaller, as fear of rejection prevented people from moving on.

The study is run on a monthly basis and includes about 2800 New Zealanders each year.