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BNZ increasing governance independence

(Headline abbreviated, original headline: BNZ increasing governance independence as investment expert Paul Richardson joins BNZ Investment Services Limited board)

BNZ has added another investment expert to the board of BNZ Investment Services Limited with the appointment of Paul Richardson.

This means the board now has a majority of non-executive directors.

Paul brings a wealth of experience to the role having spent more than 28 years in the financial sector in New Zealand and Australia, as a Chief Investment Officer, Executive Director, Head of Research and Funds Manager.

BNZ General Manager, Wealth, Peter Forster says Paul’s appointment is indicative of the bank’s drive to deliver better outcomes for customers.

“Paul Richardson brings an independent perspective to the table that will help our constant focus on putting the customer first,” Mr Forster says.

“With the appointment of Paul, on the back of Graham Ansell joining the board earlier this year, we have extremely strong and capable, independent voices at the table.

“We believe that this independence will help the board continue its strong advocacy on behalf of the customer at the governance level.”

Paul is the managing director of Carina Capital and is a Director of AGInvest and the CFA Society of New Zealand. He was previously Executive Director and Chief Investment Officer of Mint Asset Management where he was responsible for the investment team and led the Socially Responsible investment programme. He was also previously the CIO of BT Fund Management (Westpac) and Executive Director at UBS.

“I’m excited to join the board at a time when BNZ is doing great things with its investment offerings,” Mr Richardson says.

“I look forward to bringing my perspective to the board’s decision-making, with an absolute spotlight on producing great value, quality products with a sustainable focus for BNZ customers.”

BNZ’s investment offerings include the BNZ KiwiSaver Scheme, YouWealth and Private Wealth Series and extends to the Private Bank wealth advisory offering.

BNZISL Board:

• Dick Morath
• Christine Yates
• Graham Ansell
• Hayley Cassidy
• Paul Richardson

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