Briefs: Wisr invests in European fintech, NZ Govt mulling moving from Westpac, ASB chair steps down 31 March 2021 5:47AM Banking Day staff Briefs, M&A, Fintech, Appointments, Westpac Consumer lender Wisr has invested in a European “financial wellness fintech platform” Arbor. Wisr has been developing its own household budgeting advice tools and wellness services, and the two companies will share intellectual property. Wisr’s investment is via a convertible loan; if converted the investment will give it “a small minority shareholding” in Arbor, with a pathway to increase the shareholding. New Zealand Finance Minister Grant Robertson has held discussions with Kiwibank over its readiness to take over the contract as the Government’s banker that is currently held by Westpac. Stuff reports the issue was discussed at a meeting with the bank’s incoming Chair Jon Hartley and chief executive Steve Jurkovich last year. The Government’s current contract with Westpac will last until 2023. Robertson has already asked for advice on Westpac’s suitability for the contract following the Reserve Bank’s announcement that it will conduct two reviews into Westpac. Robertson has also suggested that he could further break up the government banking contract, with different parts of the contract going to different banks. The chair of CBA’s Kiwi subsidiary ASB, Gavin Walker, will retire from the bank's board at the end of August . He will be replaced by current ASB director Therese Walsh (who is also chair of Air New Zealand). Walker joined the ASB board in March 2010 and became chairman in August 2011.