New appointments: BNZ and Stewart Group

by NZ Adviser22 Jul 2016
BNZ has made three changes to its Board, chairman Doug McKay announced today and associate professor Alastair Marsden from Auckland University has joined the Stewart Group and Boutique Advisers Alliance investment committees.

A non-executive director on the National Australia Bank (NAB) Board, Phil Chronican has been appointed to the BNZ Board as a NAB-appointed non-executive director, subject to RBNZ approval. 

“It’s a real pleasure to have Phil joining our Board, said McKay. “Phil, born and raised in Dunedin, has had a long and successful career across 35 years in banking in Australia and New Zealand, including senior executive roles with Westpac Banking Corporation (as CFO) and Australia and New Zealand Banking Group (as CEO, Australia). 

“Phil’s significant banking and risk management experience will be a valuable addition to our Board.”

Two non-executive directors, Michaela Healey and Gavin Slater will leave the Board, roles they have held since October 2014 and August 2011, respectively. 
 
“Michaela is leaving her NAB role of Group Executive Governance & Reputation and thus her role on the BNZ Board,” said McKay. 
“Her contribution has been outstanding, in particular the value she added to the People and Remuneration Committee and her experience in corporate governance.” 

“During his five years on the BNZ Board, Gavin has brought real depth of experience in consumer banking and risk management,” said McKay.  

“He has provided particular guidance in the realm of our technology strategy.  As a member of Board Risk Committee, Gavin has supported development of BNZ’s risk culture while ensuing we are customer centric in our approach.” 

Stewart Group has welcomed Alastair Marsden from the University of Auckland, as an independent investment committee member.

An associate professor in Accounting and Finance with The University of Auckland Business School, Marsden teaches risk corporate finance and finance for start-up entities. 

Stewart Group’s Investment Committee oversees the design of portfolios for its wealth management clients and its ‘adviser to adviser’ company Boutique Advisers Alliance as well as the two Asset Class KiwiSaver funds it manages in its role as asset consultant, in association with Grosvenor Investment Management Limited. 

With Marsden on board, he will provide independent scrutiny of the Stewart Group’s investment and allocation decisions. 

Stewart Group stated it welcomes Marsden’s input and is excited to utilise his knowledge to help add further value for their clients.
 

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