[As published in March/April BayBuzz magazine.]
If you’re enjoying a stroll through Havelock North these days, it’s clear that a major shift is underway. On Joll Road, you’ll find Forsyth Barr and Craigs Investment Partners. Pie Funds, Oxbury (StockCo) and JB Were right in the centre of things, while Milford Asset Management has opened an office on Napier Road. And now, just around the corner on Porter Drive, there’s a new financial player, Welcome.
“The village” is quickly establishing itself as one of New Zealand’s major financial services hubs – perhaps the largest outside of Auckland, Wellington, Christchurch and Queenstown, begins Welcome’s CEO, Anton Douglas. “It’s great to see an emerging satellite cluster here. It opens up fresh opportunities,” he says.
And the opportunity to get involved in newcomer Welcome was one that Tumu Merchants Limited director Barry O’Sullivan says the organisation couldn’t pass up. “Over a period of time, Anton was someone we came to know and trust,” Barry says. “He has an excellent reputation, vast experience across global finance and sound judgement. So when he mentioned to us his idea of establishing a Non-bank Deposit Taker, and applying for Reserve Bank licencing, we were definitely interested.”
Indeed, Anton’s resume is impressive and includes 20 years working in global banking and emerging markets in London, New York and Hong Kong. He brought his family home to New Zealand eight years ago, settling in Hawke’s Bay, and in 2023, he began planning Welcome. It’s a new breed of financial entity that – in the rather rigid and often faceless world of investment and lending – promises to offer something “surprisingly human”. Those two words have even become Welcome’s tagline.
“Customers like to ring up and confirm there are real people here,” says Anton.
And people there certainly are, with a team of eight located across Hawke’s Bay, Auckland and Christchurch and plans to grow. The personal touch is one of the company’s cornerstones. “Having someone that you can call or that calls you, really matters. We’re told – and we believe – that it helps set us apart.”
What is Welcome?
‘Non-bank Deposit Taker’ is a bit of a mouthful, but what it means is quite simple – a financial institution licensed and regulated by the Reserve Bank of New Zealand to accept deposits from the public, without being a registered bank. In July last year New Zealand’s Depositor Compensation Scheme (DCS) came into effect, covering eligible deposits held in DCS-protected accounts with registered banks and licensed NBDTs like Welcome, up to $100,000 per depositor, per institution.
Welcome takes deposits starting at $10,000, offering fixed-term rates with returns that are often better than those at the bank. The added reassurance of DCS protection is also important, says Anton, because it’s all a very different landscape from that of nearly 20 years ago, which saw finance company collapses leaving an indelible scar on many ‘ma and pa’ investors.
There’s also the reassurance of having Tumu as a 61% shareholder, but both Anton and Barry are clear – Welcome is a standalone business and will remain that way. “We have several independent directors including an independent chair, we operate within a closely regulated environment, meeting all the licencing requirements of the Reserve Bank and Financial Markets Authority,” says Anton.
Barry admits that backing a new financial entity wasn’t even on Tumu’s dance card two years ago but meeting Anton “and a case of right time, right place, right person” made it possible. Bootstrapping something that would offer deposits and first mortgages at a national scale, bringing greater choice and competition to the sector appealed. “People probably think of us as timber merchants but Tumu is a diversified investment business, and this is a key investment,” Barry emphasises. “We are ambitious, and we aim to scale.”
Welcome’s reach – and appeal – was evident from day one. The website had barely gone live before the team received their first deposit, from a woman in Gore. “She found us online and left her number so we gave her a call. She was pleasantly surprised that she was able to speak with a real person directly,” says Anton, adding that Welcome has attracted depositors from their early twenties upwards. On the lending side, Welcome focuses on property investors and jumps in to support borrowers when traditional lenders aren’t able to be as flexible.
“Some banks don’t provide certain types of products or won’t lend because their tick-box criteria isn’t met. For many of those borrowers, we can tailor lending solutions efficiently and effectively.”
Kiwis across the country have responded well since Welcome’s launch in October last year. The company reported $20.3 million in total tangible assets in December 2025, with quarterly disclosure requirements providing ongoing transparency for investors.
Welcome has also developed a fully digital onboarding journey, which Anton believes is among the most streamlined in the NBDT sector. “It works really smoothly. But it’s delivered in conjunction with our human experience – so that people can always contact us in person or over the phone.”
Another appealing factor for newcomers to Welcome is the fact it’s Kiwi-owned, Kiwi-managed and all funds deposited stay in New Zealand. Hawke’s Bay headquarters (for now, that’s within Tumu’s premises to take advantage of the company’s internal services) also appeal. “We’re not an anonymous online operation that could disappear tomorrow,” Anton – himself a key investor – says. “We’re not funnelling money offshore into some unknown managed fund, because that’s not productive for New Zealand. We only lend and invest back into New Zealand, that offers peace of mind to our customers.”
Anton notes that having Tumu on board from day one is also an advantage in the current economic climate. “Many start-up CEOs spend thousands of hours trying to find capital to enable their growth. We’re not in that boat, we have a solid shareholder group that is well positioned to support Welcome through its upcoming growth phases. And that’s exciting for Hawke’s Bay because it’s offering career opportunities right here for local professionals.”
Which brings us rather neatly back to that satellite financial services concept. Both Barry and Anton see the development of Havelock North’s ‘wealth village’ as evidence that significant capital is accumulating in the area. But more than that, it’s proof of the many practical advantages of operating from here.
Gone are the days, Anton says, of fund managers flying into the Bay to meet with clients, or of their clients forced to travel to see them face-to-face. “We have everything right here, yet there are plenty of direct flights if your work does happen to take you out of region. We can attract graduates with great skillsets to exciting finance jobs in Hawke’s Bay, and not lose them to the cities. And for people like me, we can maintain a nationwide business operation here and base a family in a beautiful area with great school options.
“Hawke’s Bay will always be the engine room of Welcome. There’s definitely pride in that fact.”
welcome.co.nz
Fiona Fraser is the director of Contentment PR & Communications. Nominate a savvy entrepreneur to feature in an upcoming column by contacting [email protected]
