The chair of the troubled New Zealand industry association for member-owned credit unions has stood down, citing other work commitments. Claire Matthews will be replaced as Co-Op Money chair by Richard Westlake, a former adviser to the board who joined it as an independent director in July. The change was made quietly, happening as Co-Op Money saw its credit rating downgraded by Fitch Ratings from BB to B+ over tight liquidity, weakening capitalisation and poor profitability outlook. Satisfaction with their wealth managers remains at considerably lower levels among the high net wealth individuals in the APAC region - including for Australia - compared to the rest of the world, according to Capgemini's Asia-Pacific Wealth Report 2018. (HNWIs are defined as those having investable assets of US$1 million or more, excluding primary residence, collectibles, consumables, and consumer durables.) This is despite also recording the most favourable conditions.  Ultra-HNWIs (with investible assets exceeding US$30 million) were the least satisfied investor class despite the high returns being delivered. Concerns over the lack of holistic services from wealth management firms; perceived low value-add management fees; and a low personal connection with wealth managers were top reasons for this discontent. The report covers Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand, and Taiwan.