Euro-Nat world plan

Press, 10 March 1987, Page 41

Euro-Nat world plan

An Auckland-based trans-Tasman financier and merchant banker, Euro-National Corporation, Ltd, has announced plans to open offices in New York, London and Hong Kong in a move to put its activities on an international footing. At a presentation in Christchurch last week, the executive chairman, Mr Ron Petricevic, said the new buildings would be in addition to the present Sydney and Auckland offices to form a worldwide network. He said the company had a long-term profit objective. The company’s main targets were in “niche”

banking (investment or corporate banking), mergers and acquisitions, and property development and investment.

Mr Peter Brannigan, an executive director who will head the “niche” banking sector, said that with new methods of gauging risk, such as zero coupons, Euro-National would use these tools as its building blocks. And as it would be involved in the global market it would have a greater range of instruments to choose from.

Euro-National plans to operate an advisory type service, directing companies on the best way to raise capital using the

international “tools.” It would be able to “tailor a solution” according to a company’s needs and balance sheet.

The company would be “leading the field” in its role of problem solver, innovator or financial engineer, Mr Brannigan said.

Another executive director, Mr Richard Sealy, explained the restructure of the balance sheet, which forecast $6O million profit for the year ending March 30, 1988. In answer to a question about the break down of that S6OM, Mr Sealy said he expected about 40 per cent to come from the Australian operations.