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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Science Awards: NZAS Celebrate NZ Scientific Achievements

The Marsden Medal is awarded for a lifetime of outstanding service to the cause or profession of science, in recognition of service rendered to the cause or profession of science in the widest connotation of the phrase. This year’s medal is awarded to Dr Mike Andrews. More>>


Court Rules: Affco 'Unlawfully' Locked Out Meat Workers

The note says the full court found for the plaintiffs, "that is that the defendant locked out the second plaintiffs unlawfully and that it breached s 32 of the Act by acting otherwise than in good faith towards the plaintiffs while collective bargaining was still going on." More>>


New Bill Introduced: GST On Online Services

These measures are an important first step in the Government’s efforts to deal with increasing volumes of online services and other intangibles purchased from overseas suppliers that should, under New Zealand’s tax rules, be subject to GST. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news