Investors in debtor finance company Scottish Pacific made a gain on the company's first day of trading on the Australian Securities Exchange. Shares in the initial public offering were priced at A$3.20. They closed yesterday at $3.35 - a gain of 4.7 per cent. Volume was 16.7 million shares. Rabobank New Zealand announced the appointment of Daryl Johnson as chief executive, effective immediately. Johnson was National Australia Bank's CEO for Asia until last year, having previously been NAB's general manager of commercial and SME business banking in Australia. Johnson takes over from Crawford Taylor, who has been interim Rabobank NZ CEO since October last year. Crawford will return to work for Rabobank in Australia. He became interim CEO after Ben Russell left to become head of rural banking at Heartland Bank in October. National Australia Bank has consolidated eight of its retail superannuation funds to create a A$70 billion flagship fund, The Australian reports. The beefed-up MLC Super Fund will be one of the biggest in the industry. The bank said the consolidation would simplify regulatory changes. The restructure also enables the sale of NAB's life insurance business.