By Ainsley Thomson | Updated on Oct 12, 2026 at 04:33 AM
Investment firm Jarden has hired two directors from rival Forsyth Barr as the jostling for talent continues to shake up New Zealand’s investment banking market.
Nick McLister and Jared Butters both join as directors and sales traders, according to an email to Jarden staff on Monday from Head of Equities John Spencer, which was seen by Bloomberg News.
“Between them, Nick and Jared bring about 50 years of experience as well as strong client relationships in the ANZ market,” Spencer’s email said. “We’re looking forward to the impact they’ll have working alongside the broader team both in NZ and across to Australia.”
The hires complete Jarden’s institutional sales/trading team and come after the firm said in September it had hired five people for its New Zealand equities and research teams. They were earlier reported Monday by the Australian Financial Review.
Read more: Banker Talent Raid Sparks Big Shakeup in Tiny New Zealand Market
In late July, Australian firm Barrenjoey Group jolted New Zealand’s financial services market when it announced plans to establish a local unit. It went on to poach 14 employees from Jarden, including former co-Chief Executive Officer Dan Reynolds and co-Head of Investment Banking Silvana Schenone.
The departures of Reynolds and Schenone are now the subject of an Employment Court case brought by Jarden, which is seeking access to cloned phones and other material.
Read more: Jarden-Barrenjoey Banker Dispute to Return to New Zealand Court
Jarden says it needs the material to determine whether confidential information was shared with competitors, whether clients were “improperly solicited” and whether the “coordinated departure” of the 14 employees to Barrenjoey was planned using its devices, systems or data.