University of New Zealand University of New Zealand The University of New Zealand was New Zealand's sole degree-granting university from 1874 to 1961. It had a federal structure embracing several constituent institutions at various locations around New Zealand. After it was dissolved in 1961 New Zealand had four independent degree-granting universities and two associated agricultural colleges: the University of Otago (Dunedin), University of Canterbury (Christchurch), University of Auckland (Auckland), Victoria University of Wellington (Wellington), Canterbury Agricultural College (Lincoln) and Massey Agricultural College (Palmerston North). The University of New Zealand Act set up the University in 1870. At that time, the system's headquarters was in
Auckland City as banking and insurance, which were affected by financial crises. However, over the last five years of its existence, Auckland's economic growth averaged 1.4% each year, higher than the average of the region and the nation. In 2003 three of the ten largest companies in New Zealand (Air New Zealand, Fletcher Building, and Foodstuffs) were headquartered in Auckland City. Many large corporations were housed within Auckland CBD, the central part of Auckland City. Air New Zealand has its worldwide headquarters, called "The Hub", off Beaumont and Fanshawe Streets in the Western Reclamation; the airline moved there from the Auckland CBD