Two New Directors Join Public Trust’s Board

News Release 5 August 2004

Two New Directors Join Public Trust’s Board

Public Trust has today announced the appointment of two new Directors to its Board; Mr Donal Curtin and Mr Kai Luey. Both appointments take effect immediately.

Mr Curtin is Managing Director of business economics consultancy Economics New Zealand, based on Auckland’s North Shore. A member of the Commerce Commission and Monetary Policy Advisor to the Finance and Expenditure Select Committee, Mr Curtin is a former Chief Economist and senior executive with the Bank of New Zealand.

Mr Curtin has a Bachelors degree in Economics and Political Science from Trinity College, Dublin and an MA in Economics from the National University of Ireland.

Mr Peter Taylor, the Board’s Chairman, says “Mr Curtin brings a wealth of experience to the Board. He has an in-depth knowledge of the New Zealand financial sector, including the managed funds and investment advisory sector, and of public policy development and analysis.”

Mr Luey has extensive commercial experience in marketing, engineering and manufacturing, from a long involvement in the electricity supply industry.

A graduate of the University of Canterbury with a Bachelor of Engineering, First Class Honours, he is the proprietor of Advanced Business Concepts who market a range of analogue and digital dictation products and carry out specialised testing of portable appliances.

Mr Luey was born in Westport to Chinese parents and is active in Rotary and Chinese community affairs.

Mr Curtin and Mr Luey replace Richard Nelson and Sarah Ottrey, who have both stepped down from the board.

“I would like to acknowledge the contribution Richard and Sarah have made to the board; both have served since early 2002 when Public Trust became a Crown Owned Entity.

Public Trust’s board comprises eight Directors who report to the Minister responsible for Public Trust, the Hon. Jim Anderton. Wellington Company Director Peter Taylor, a Chartered Accountant and member of the Commerce Commission, chairs the Board of Directors.

Other current Directors are Liz Coutts, an Auckland based Company Director who also serves as member of the Commerce Commission and on the Earthquake Commission; Auckland financial and investment adviser, Murray Weatherston; Bay of Plenty lawyer Patricia Jones; Fiona Pimm, CEO of He Oranga Pounamu in Christchurch and Stephanie McIntyre, the Social Justice Commissioner for the Anglican Church.

“We welcome Donal and Kai to the Public Trust board. Their skills will complement those of the current directors. I look forward to working with them as we build on the achievements of the last two years that have seen the Public Trust develop a sustainable business and cement its reputation as an expert, proficient and respected trustee organisation,” Mr Taylor said.

ENDS

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