Macquarie wants to grow its New Zealand Private Wealth ranks from 44 today to around 80 within the next three years, starting with three new hires this week.

The top four Australian bank is bidding to grow its share of the New Zealand wealth market, chief executive Ian Witters said in reports last week. The ambitious hiring plans started last week, with the hire of a trio for the research and advisory divisions.

Richard Frogley joined Macquarie as an investment analyst, from his previous role as an economics tutor for the University of Auckland. He was previously an investment strategist for New Zealand Superannuation Fund for five years, and has worked as an investment strategist with AMP Capital Investors.

Laurence Fitzpatrick joined as business manager and chief operating officer, and will support chief executive Ian Witters, in the day-to-day operational management of the business, as well as assisting with strategic initiatives. Fitzpatrick was previously with NZTE as a senior investment manager.

Both Frogley and Fitzpatrick will be based in Auckland. 

Nick Fitness joined as an associate advisor, from his previous role at Morgan Stanley in London where he was manager of EMEA fixed income trading fees. He will be based in London.