deVere Group CEO Tips Auckland, New Zealand to Become One of the Most ‘Influential Financial Hubs’

Auckland, the largest city in New Zealand, is set to become one of the major financial hubs of the global South within the next five years, predicts Nigel Green, founder and CEO of deVere Group, an independent financial advisory and asset management organisation.

Green expects the city to compete ‘more effectively and aggressively’ with other international finance hubs in the global south including São Paulo, Johannesburg, Mumbai, Shanghai and Singapore.

Nigel Green, founder and CEO of deVere Group

“Auckland’s geographic position is a significant advantage, strategically located at the crossroads of the Americas, Asia, and Oceania,” explains Green. “This unique positioning facilitates international trade and finance, making Auckland a prime base for multinational corporations looking to expand in the Asia-Pacific region. Auckland International Airport is one of the busiest in the region, and is undergoing significant upgrades to accommodate future growth.

“In addition, the city’s port facilities are among the most advanced in the southern hemisphere. These robust infrastructural foundations enhance Auckland’s appeal as a global business hub, providing seamless connectivity for international trade and investment.

“Compare this, for example, to São Paulo, which is more regionally focused compared to Auckland’s broader Asia-Pacific reach; and Johannesburg faces challenges with regional instability.”

Government policies fostering a business-friendly environment are crucial. New Zealand has ranked first in the World Bank’s Ease of Doing Business Index, reflecting the country’s efficient regulatory framework. Auckland has benefited from these policies, attracting significant foreign direct investment (FDI).

“Compare this to Mumbai, for instance, India’s rapid growth and large market are strengths, yet infrastructure challenges and bureaucratic hurdles remain. Auckland’s streamlined regulatory environment provides a smoother investment landscape,” says Green.

Auckland’s rise

Auckland’s rise as a financial hub is being driven by tech innovation. The city’s fintech centre, with numerous startups and established companies innovating in areas such as digital payments, blockchain, and cybersecurity.

The New Zealand fintech sector has a ten-year compound annual growth (CAGR) of 32 per cent; four times higher than the tech industry as a whole.

The city’s innovation ecosystem is supported by strong partnerships between the private sector, academia, and government. Higher education institutions, such as the University of Auckland, are at the forefront of research and development, particularly in fintech.

Green also said: “The city aims to become carbon-neutral by 2050, aligning with global sustainability goals. Initiatives such as the Auckland Climate Action Plan outline strategies to reduce emissions, promote green energy, and enhance urban resilience.

“In terms of inclusivity, it’s a multicultural city with a diverse population. This diversity is reflected in the workforce, fostering an inclusive business environment that attracts global talent. The city’s policies support gender equality and diversity in the workplace, enhancing its appeal as a progressive financial hub.

“There’s an undeniably strong case for Auckland to become one of the biggest and most influential financial hubs of the Global South in the next five years. Rivals should also not rest on their laurels.”

The post deVere Group CEO Tips Auckland, New Zealand to Become One of the Most ‘Influential Financial Hubs’ appeared first on The Fintech Times.