Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Tainui appoints ex-Heartland exec Stephen

Tainui appoints ex-Heartland exec Craig Stephen to drive new investment strategy

By Paul McBeth

Sept. 18 (BusinessDesk) - Tainui Group Holdings, which manages the commercial interests of Waikato-Tainui Te Kauhanganui Inc, has appointed former Heartland New Zealand executive Craig Stephen to oversee its shift to attract bigger and faster investment returns.

The iwi’s corporate unit plans to shift its investment strategy towards short-term property development and taking direct stakes in medium to large private businesses, and has appointed Stephen as chief investment officer to identify, analyse and realise new investments, it said in a statement. Tainui Group Holdings has previously focused on long-term property development, such as its Base project in Te Rapa.

“Craig has an impressive set of skills and a wealth of experience which we believe are well suited to our new investment strategy,” chief executive Mike Pohio said. “The majority of our assets will remain and we will continue to invest in property, but we will diversify our investments with a view to achieving higher cash returns, more quickly, than property investment can give us.”

Stephen finished up at Heartland last week, having been involved in the merger between Marac Finance and the Canterbury and Southern Cross building societies after joining former Marac parent Pyne Gould Corp in 2009 as chief investment officer.

Tainui Group Holdings had assets of $725.4 million as at March 31, making it the country’s second biggest commercial iwi entity behind Ngai Tahu’s $809.4 million as at June 30 last year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Bad Day For Rope: Donaghys Job Losses Another Blow To Dunedin

The loss of 30 jobs from Donaghys rope and twine factory is yet another blow to the people and economy of Dunedin, says Dunedin South Labour MP Clare Curran. More>>

ALSO:

Oil: 2014 New Zealand Petroleum Summit

Simon Bridges: Our abundance of energy and minerals resources provides us with unique opportunities to build the New Zealand economy.

Over the past three years the Government has made significant changes to how the sector is regulated. More>>

ALSO:

WWF Report: Solutions In Reach; World Biodiversity Suffers Major Decline

Global wildlife populations have declined by more than half in just 40 years as measured in WWF's Living Planet Report 2014. Wildlife's continued decline highlights the need for sustainable solutions to heal the planet... More>>

ALSO:

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news