Our History
The history of Craigs Investment Partners began in 1984 when Neil Craig, (now Executive Chairman) left his job in the corporate planning division of Tasman Pulp and Paper and established Craig & Co in Whakatane.
Through Neil’s initiative, Craig & Co became the first regional broker to have its own operator on the trading floor in Queen Street, Auckland. By the time of the ’87 Stock Market Crash, the business had grown to a staff of 12. The business survived well due to a conservative investing approach and diversification into both Government Stock and overseas investment.
The company began to expand throughout 1988 and 1989, purchasing Franklin Holmes (operating out of Tauranga and Rotorua); The Ararimu Holdings and Hickey broking firms in Tauranga and another in Gisborne. It was at this point Craig & Co established its first head office based in Tauranga, with Neil Craig teaming up with new Director David Coleman. Identifying the growing trend north, Craig & Co established a full service office in Auckland and on Auckland’s North Shore.
Between 1992 and 1997, Craig & Co either acquired or established businesses in Invercargill (formerly Frater Williams operation), Gore, Wanganui, Hamilton, New Plymouth and Whangarei.
In February 2001, Netherlands-based ABN AMRO a global financial institution with a history dating back to 1824 and the fifth biggest banking group in Europe, agreed to take a 50% shareholding in Craig & Co to become ABN AMRO Craigs. In April that same year, ABN AMRO Craigs acquired the retail advisory business of Merrill Lynch when that company exited New Zealand. This added eight advisors in Auckland and enabled Craigs Investment Partners to establish a Wellington presence by taking over the Merrill Lynch office (including six advisors in that city).
In February 2004, ABN AMRO Craigs acquired the Christchurch sharebroking firm Lawrence Millton & Howarth to become the 13th branch of ABN AMRO Craigs.
By September 2005, the business had grown and Frank Aldridge took over the reigns as CEO, with Neil Craig remaining as Executive Chairman and Head of Investment Banking for the firm. The Head Office and Tauranga branch of ABN AMRO Craigs moved to new premises in Tauranga. The company’s broking and investment advisory services now stretched to 13 branches, with 202 staff including 87 investment advisors.
In October the following year Greenslades (an advisory firm based in Dunedin with offices in Christchurch and Invercargill) merged its business with ABN AMRO Craigs. The enlarged firm strengthened its national footprint and positioned itself as the largest private client NZX firm in New Zealand with 14 branches nationally.
Between December 2006 and April 2008, ABN AMRO Craigs established a new branch in Kerikeri to better service the needs of clients in the far north. Then it acquired Winstanley Dickson, NZX Participant Firm based in Blenheim and Glendinnings Advisory Firm in Palmerston North. Both acquisitions further cemented ABN AMRO Craigs position as New Zealand’s largest private client, investment advisory firm with 17 branches nationwide.
10 October 2007, the consortium of Fortis, Royal Bank of Scotland (RBS) and Santander globally acquired ABN AMRO. This effectively meant ABN AMRO’s 50% equity stake in ABN AMRO Craigs, was now owned by RBS.
26 February 2009, RBS officially announced withdrawal from the New Zealand market, with the sale of their 50% equity interest, and additionally their wholesale business in New Zealand to ABN AMRO Craigs including Investment Banking, Debt Capital markets and Institutional equities dealing.
1 April 2009, ABN AMRO Craigs officially announced 100% ownership of the business back in the hands of approximately 160 employee shareholders of the firm, and ownership of the newly acquired wholesale business.
31 August 2009, ABN AMRO Craigs officially changed the company name to Craigs Investment partners.
Today, Craigs Investment Partners is 100% owned by approximately 160 senior employees of the firm. The business employs approximately 300 employees across three core business units.
The new business is built on three independent business units:
- Private Client Advisory
- Institutional Equities, and
- Investment Banking
It is New Zealand’s largest NZX participant investment advisory firm, with 17 branches and 110 qualified investment advisors servicing clients from Kerikeri to Invercargill.