Rural bank Rabobank is to relocate its head office from Wellington to Hamilton in move designed to get it closer to agricultural regions.
Plans are underway to develop a new, purpose-built agri 'centre of excellence' in Hamilton's CBD as the new base for the bank's corporate head office roles, along with existing Hamilton staff.
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Rabobank NZ CEO Todd Charteris said the move was an opportunity for the business to support its growth strategy into the future and relocate to one of New Zealand's largest and growing agri-business regions.
"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," said Charteris.
The bank would progressively relocate the corporate head office roles to Hamilton between early 2021 and January 2022, when it is expected around 80 roles will be based in Hamilton.
It would retain significant operations in Wellington for the foreseeable future through its IT and Operations teams, totalling some 70 people.
The bank currently employs more than 350 people across its network of 32 offices throughout New Zealand.
A staff consultation process was completed before Rabobank New Zealand's board confirmed the relocation decision.
"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."