NZ Hamilton

First NZ Capital’s Hamilton leaves banking

First NZ Capital’s head of investment banking is moving to casino and hotel operator Skycity, the latest banker to abandon the hard-pressed sector.

First NZ Capital’s head of investment banking Rob Hamilton has left banking to become the chief financial officer of Skycity Entertainment, joining the long line of bankers that have switched to the corporate world since the global financial crisis.

Hamilton, who is also on the board of the New Zealand Olympic Committee, starts at the casino and hotel operator in October, the companies said on Wednesday.

Investment banks have struggled to maintain profitability as regulators have cracked down on the sector. As a result, most banks have shrunk their investment banking teams and now run leaner ships. In addition, total compensation packages have been falling.

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