About Us

FNZC is a leading full service, wholly locally owned, share broking and investment banking* firm. We’ve been active under various names for more than 50 years and have a formal strategic alliance with Credit Suisse, a relationship that has existed for more than 20 years. This alliance provides our clients with access to world class global research, industry expertise, global securities distribution, bank debt and underwriting capabilities.

*FNZC is not a registered bank

Our Philosophy

In an industry full of promises, we try to avoid clichés when describing FNZC’s approach to business and culture. As much as anything, this is an acknowledgement of the infinite number of moving parts that make up financial markets.

Markets and asset prices will surprise us all from time to time. We seek to manage the surprises.

The strength of our business lies in our commitment to building a thorough understanding of each client’s unique investment goals, and working with them to achieve successful long term outcomes.

Our investment advice is informed by a team of investment and research specialists, drawing on our own top rate research and the collective resources of our global partners.

FNZC is extremely well resourced in New Zealand, with nine senior research analysts based here. This strong local presence is complemented by our access to best of breed international research and global investment reach through our strategic alliance with Credit Suisse.

A long line of talented and passionate people have developed the firm over time, always with our client’s best interest foremost in their minds.

Our History

The forerunner to FNZC, R.A. Jarden & Co, was established in 1961 by Ron Jarden. As well as a great stock broker and businessman, Ron was a star All Black, playing 16 tests on the wing between 1951 and 1956.

He started R.A. Jarden & Co. in a room above Tom Morrison’s menswear shop in central Wellington. Soon after he was joined in partnership by our founder president, Bryan Johnson. The company has been active under various names ever since. We became First NZ Capital in 2002 following an employee buyout of Credit Suisse Group’s New Zealand operations.

While much about the firm has changed and will continue to evolve, our commitment to achieving the best possible results for our clients remains constant.

Today, our long history in the New Zealand market and access to local resources are complemented by our global reach across investment banking and securities services.

Our Values

Our core values are the guiding principles of our firm. All of our actions must be true to these values.

Client Focus is at the core of everything we do. We must always aim to deliver great outcomes for our clients.

Thought Leadership reflects a compelling need to create innovative solutions that our clients’ value.

Being Respectful of Others, both within and outside the firm, means exactly that. It manifests itself in many ways.

Excellence is table stakes in an industry as competitive as financial services. We must be outstanding at everything we do.

Our Achievements

First NZ Capital’s many accolades reflect the consistently high calibre of our investment banking, securities, wealth management, and financial research services. Find out why so many New Zealanders trust us to help them grow their wealth.

Investment Banking

We are New Zealand’s leading investment bank, with significant M&A and public markets transaction experience and a clear history of executing complex cross border transactions and providing innovative solutions for our clients



  • FNZC has the leading market share of all M&A transactions in New Zealand over the past 10 years, nearly double our nearest competitor
  • FNZC has completed 19 private M&A transactions since January 2016, at an average value over NZ$200m

Public Markets

  • FNZC has led 11 IPOs for NZX listed companies in the last five years, three more than our nearest competitor
  • The average performance of FNZC-listed companies significantly exceeds that of our competitors over this period
  • FNZC has led 18 primary and secondary equity offerings over $30m since 2011, more than any competitor
  • FNZC was involved in six out of seven successful NZX public market takeover processes announced or completed in 2017

Credit Suisse

  • FNZC has over 50 years of co-operative history and ownership with Credit Suisse
  • Recent examples of our how, together, FNZC and Credit Suisse deliver superior investment banking outcomes include:
    • The acquisition of Paymark by Ingenico (French office, pending)
    • The sale of Icebreaker to VF Corporation (United States office, April 2018)
    • The sale of Auckland Airport’s stake in NQA (Australian and European offices, March 2018)

Research Awards

Our research team has consistently ranked highly in industry surveys since 2000.


In the 2017 INFINZ awards, First NZ Capital research analysts ranked in the top three in 16 of the 18 New Zealand sector categories.

The First NZ Capital research team was voted 1st in 2017, in the following sectors:
Financials, Food Beverages & Agriculture, Industrial/Manufacturing, Media, Telecommunications, Tourism & Entertainment, Transport, Technology, and Australian Research.

Arie Dekker, Head of Research, was voted Analyst of the Year.

Share Broking Awards

Voted Sharebroking Firm of the Year by INFINZ (Institute of Financial Professionals of NZ Inc.) in 2008, 2009, 2010, 2012, 2013, 2015, 2016, 2017 and 2018.

Recent Transaction Highlights

Precinct Properties – Accelerated Offer to Fund Development Projects
Joint Lead Manager and Underwriter, client: Precinct Properties NZ Limited, value: NZ$174m, March 2015


Orion Health IPO – Largest NZ Primary IPO of 2014
Joint Lead Manager, client: Orion Health, value: NZ$125m, November 2014

Port Otago, Sale of Stake in Lyttleton Port
Advisor to Port Otago, value: NZ$66m, September 2014

Vocus, Acquisition of FX Networks
Adviser to Vocus, value: NZ$116m, September 2014

EROAD IPO – Listing and Capital Raising for Expansion
Sole Lead Manager, client: EROAD, value: NZ$46m, August 2014

Sale of Griffins
Advisor to Pacific Equity Partners, value: NZ$700 million, July 2014

Genesis IPO – Final Mixed Ownership Model Transaction
Joint Lead Manager, client: NZ Treasury, value: NZ$736m, April 2014

Refining NZ – Institutional Placement and Share Purchase Plan
Arranger and Underwriter, client: Refining NZ, value: NZ$54.7 million, April 2014

Contact Energy – Bond Issue
Rollover and new issue of unsecured, unsubordinated bonds, Joint Lead Manager, client: Contact Energy, value: $222m, February 2014

Broker Disclosure Statement

The important disclosures in the following document are made to ensure that you have sufficient information to make an informed decision about whether to use the broking services of First NZ Capital.