Briefs: ANZ NZ legal claim looms, RBNZ launches new settlement system, Online lender Moula hires a C
Victims of a financial advisor's Ponzi scheme are seeking NZ$80 million from ANZ New Zealand. The group of more than 550 investors in failed Ross Asset Management (RAM) will start a legal claim next week. They claim ANZ either knew or should have known that Wellington financial adviser David Ross was operating a Ponzi scheme, which collapsed in 2012. The High Court cleared the way for the case last year when it rejected ANZ's bid to stop the Financial Markets Authority from passing on information to the group about the company's collapse. The Reserve Bank of New Zealand has replaced New Zealand's inter-bank settlement system and central securities depository, launching what it says is "a new future-proofed payment settlement system". The new platform replaces a 20-year-old system with two separate systems, ESAS 2.0 and NZClear 2.0, and comprises the Real Time Gross Settlement (RTGS) and Central Security Depository (CSD) applications supplied by SIA and its wholly owned subsidiary Perago. Infrastructure support services are supplied by Datacom Systems Limited. Australian online SME lender Moula has hired Ashley Miller as its chief financial officer. This is a newly-created role reporting to CEO Aris Allegos. Miller joins Moula from Deloitte where, as a corporate finance partner, he led due diligence on a range of his clients' acquisitions, divestments and IPO transactions. Allegos said Miller will oversee all finance functions within Moula and play a lead role on future equity and debt capital raisings.