Briefs: Funding Circle outlines big plans, Rabobank NZ confirms investigation
Peer-to-peer platform Funding Circle plans to list on the London Stock Exchange, hoping to raise £300 million at a maximum valuation of £1.65 billion. Heartland A/S (a major investor in companies including ASOS) has already placed an order for 10 percent of Funding Circle's shares, reports Altfi. Funding Circle has also announced a US$1 billion funding deal with Alcentra (a subsidiary of Wall St giant BNY Mellon). In a disclosure statement Rabobank NZ has confirmed reports that the Reserve Bank of New Zealand is reviewing its governance and management over concerns it is not sufficiently independent of its Australian sister bank and its Dutch parent. In the statement acknowledging the independent review commissioned by the RBNZ, Rabobank pushes back at claims key decisions are made by the Australian executive team. "The Rabobank New Zealand Banking Group has a network of 32 offices in New Zealand and employs over 300 people. Two of Rabobank New Zealand Limited's independent directors and the Banking Group's CEO are resident in New Zealand," the bank says.