Co-op Money NZ Appoints Independent Director

AUCKLAND, 1 AUGUST 2018: Co-op Money NZ is pleased to announce the appointment of Richard Westlake as independent Director to Co-op Money NZ and Co-op Services NZ for a period of three years. Mr Westlake had previously worked as an independent adviser with the Co-op Money NZ Board for just over a year since July 2017.

Announcing Mr Westlake’s appointment, Co-op Money NZ Board Chair, Claire Matthews, says the Board is very pleased to confirm the appointment of Richard as Independent Director.

“We are very pleased to have someone of the calibre of Richard join the Co-op Money NZ Board. Richard’s knowledge of Co-op Money NZ having worked with us already for a year, together with his strong experience in governance, cooperatives and banking makes him the perfect choice to join our Board.”

Mr Westlake in turn says “I’m delighted to be joining Co-op Money NZ after working with the board and executive team over the last year. I’ve seen the depth of talent in the business and I’m excited about the opportunities for it, particularly with the recent enactment of new, more enabling, legislation for all credit unions.”

Mr Westlake has 25 years of corporate governance experience including being appointed by the World Bank’s private sector arm, the International Finance Corporation (IFC), onto the Board of RCBC Bank, one of the largest banks in the Philippines. He is also the founder and Managing Director of Westlake Governance Limited, a Wellington based, globally focused business, and one of New Zealand’s leading corporate governance firms.

In 2013, the IFC commissioned and published Mr Westlake’s book, Guidance for the Directors of Banks, written mainly for directors new to banking. Previous banking roles include being a founding independent director of Kiwibank for ten years and South Island Chief Executive for Trust Bank Canterbury, and then WestpacTrust, in the late 1990s.

Mr Westlake gained his Master of Arts at Oxford University. He is married and lives in Wellington.

ENDS.

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