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Strategy head swaps agency land for finance
Andy McLeish
Former strategy head Andy McLeish has switched codes from agency land to financial services.
He has launched a new digital savings platform called Wedge Money.
McLeish makes the move into fintech after 12 years in agency land. He was head of strategy at Colenso BBDO for five years, and more recently, partner and the chief strategy officer at Bastion Shine.
During that time, MacLeish helped many of New Zealand’s largest and most successful companies shape their brands and marketing, including all four of the big banks in Aotearoa
He co-founded Wedge Money alongside his brother, Dave McLeish, a seasoned fund manager with decades of experience managing low-risk investment portfolios.
The platform was born from the brothers’ desire to improve Kiwis’ financial wellbeing. In 2021, Aotearoa New Zealand has one of the lowest household savings rates in the OECD, according to the OECD Statistics blog. Meanwhile, Canstar research from last year shows that 52% of Kiwis don’t have enough put by to cover two months without income.
According to RBNZ, the current average unconditional savings rate with the major banks is 2.04%. At launch, Wedge will offer a return of 4% annually.
The aim: give back $1 billion
Dave MacLeish says, collectively, Kiwis miss out on billions of dollars every year because there’s little else on offer.
The brothers aim to return up to $1 billion in interest income annually to New Zealanders.
“While there’s been a wave of innovation in the savings sector internationally, with money managers providing smart, flexible alternatives to traditional bank offerings, it hasn’t hit New Zealand’s shores yet. But we’re proud to be changing that with Wedge.”
