NZX CFO Bevan Miller resigns, heads to Cooperative Bank
By Sophie Boot
July 26 (BusinessDesk) - NZX chief financial officer Bevan Miller will leave the market operator in October to take up the same role at Cooperative Bank.
Subject to Reserve Bank approval, Miller will start on Nov. 1, with the bank's current head of finance Ellen Cheyne acting as interim CFO until then. Former CFO Gareth Fleming resigned earlier this month after 10 years in the role.
"On behalf of the team at NZX, I would like to thank Bevan for his enormous contribution and commitment to the organisation, and in turn New Zealand’s capital markets, over the past four and a half years," NZX chief executive Mark Peterson said. "Bevan has been an invaluable member of NZX’s executive team, and chair of NZX’s Smartshares exchange traded funds business during his time here."
NZX has begun an executive search to replace Miller and will provide a further update to the market in due course, it said.
Cooperative Bank was granted a banking licence in the latter half of 2011 and rebranded from its former incarnation as PSIS when it had 127,000 customer-owners. It reported flat annual earnings of $10.3 million in the year ended March 31 with an unchanged rebate of $2.1 million, even as it added 15,000 new customers in the year giving it 156,000 customers.