Bowring Burgess changes name

Press, 25 November 1981, Page 27

Bowring Burgess changes name

PA Wellington Bowring Burgess Finance, Ltd, Wellington-based financier with branches in Auckland and Christchurch, has changed its name to NZ Securities and Finance, Ltd. The change, which was approved at an extraordinary general meeting, also involves the holding company. Bowring Burgess, Ltd, which has changed its name to Leadenhall Investments. Ltd. In a statement the chairman of Leadenhall Investments, (Mr Peter L. Burgess) said the name change followed a recent change in shareholding. He said that the take-over of C. T. Bowring, Ltd, of London by the U.S.-based Marsh and McLennan group, Bowring’s no longer held the 24.5 per cent interest previously invested in Bowring Burgess, Ltd. Mr Burgess said the shares had been purchased by Leadenhall Holdings, Ltd, and consequently the name of the holding company was changed to Leadenhall Investments. Ltd. He says that this means the company is

now 100 per cent New Zea-land-owned. Other operating divisions and subsidiaries within the old Bowring Burgess group have also changed their names. Bowring Burgess Fund Managers. Ltd, has changed to Leadenhall Fund Managers. Ltd, and Bowring Burgess Money Brokers and Nominees, Ltd, has changed to Leadenhall Money Brokers and Nominees, Ltd. Bowring Burgess Finance, Ltd. now NZ Securities and Finance. Ltd, has shown good growth during the past six years. The managing director (Mr M. N. Pilkington) says that debenture issues have filled rapidly and taxpaid profit has increased annually by an average 20.2 per cent. With the name changes come a new image but this, says Mr Pilkington, is the only visible sign. Trading patterns and board policy remain unchanged with the main activity taking place in the hire purchase, leasing, block discount dealer financing. and company finance fields.