Goldman Sachs is set to move its New Zealand securities business to Australia, as revealed by Street Talk Online on Tuesday.  
"We wish to inform you we have entered into a review and consultation process which proposes to implement changes to our securities trading business and settlements and clearing functions in New Zealand," Goldman Sachs bosses Simon Rothery and Andrew Barclay told staff.
"In early 2016 we are proposing to relocate our New Zealand-based market trading activities and implement an integrated coverage model from Sydney."
However, the investment banking unit will remain as a stand-alone operation. 
Goldman's investment bankers across the Tasman have had a busy year. The team stitched up the investment of Chinese state-owned Bright Food Group in Silver Fern Farms; Z Energy's purchase of Chevron's New Zealand service station network; Archer Capital's acquisition of Aspire Education; and Harvard's sale of its holdings in Kaingaroa Timberlands.
ECM transactions in recent years have included the initial public offerings of Fonterra, Mighty River Power, Meridian Energy and Z Energy. 
Goldman Sachs told staff the relocation and integration would be finished in 2016. 
Elsewhere, and as also revealed by Street Talk Online, Hastings Funds Management has promoted Peter Taylor to oversee the firm's Global Investment and Global Asset Management teams following the departure of Richard Hoskins. 
Hoskins headed up Global Asset Management and was chairman of the equity investment committee. He plans to pursue other opportunities in the infrastructure space. 
Taylor is deputy chair of the equity investment committee and and established Hastings' North American business, building strategic relationships and partnerships. He was most recently head of Global Investment at Hastings.