Directors Named for PIF Guardians

29 September 2016

A broad range of financial expertise will feature on the new organisation that oversees the management of New Plymouth District’s Perpetual Investment Fund (PIF).

On Tuesday (27 September) New Plymouth District Council confirmed the five Directors who will comprise New Plymouth PIF Guardians Ltd, which will begin operating in March next year.

“We had a very high calibre of candidates – it wasn’t simple deciding on the five who have been selected,” says Chief Financial Officer Alan Bird.

“We’re very fortunate to have people with significant national and international financial experience to guide our district’s ongoing investments, which will benefit residents for generations to come.”

One PIF Guardians Director is current Taranaki Investment Management Ltd (TIML) Director Jamie Tuuta.

Mr Bird says Mr Tuuta will provide valuable continuity between TIML and the new organisation. “We’re very pleased that Jamie has agreed to carry on with his role.”

Between now and March the PIF Guardians members will write the Statement of Investment and Policy Objective for the fund, and select the outsourced agent for managing the PIF.

The Directors of the PIF Guardians are:

Mark Butcher (Chair)
Mark is Chief Executive of the New Zealand Local Government Funding Agency, board member of Institute of Financial Professionals NZ (INFINZ) and director of Civic Assurance. His was previously Treasurer at Auckland Council, held senior trading and sales roles across derivative, interest rate and debt products at the National Bank of New Zealand and Westpac Institutional Bank, and also worked in the wealth management sector as Chief Investment Officer at Perpetual Capital Management and General Manager of Alliance Bernstein New Zealand.

Kirsty Campbell
Kirsty has broad experience in finance, regulation and law. She is currently a Non-executive Director of Simplicity NZ Limited (which launched the Simplicity Kiwisaver Scheme in August 2016) and Independent Chair of the Compliance Committee at Salt Funds Ltd. Her background includes leading or assisting on more than 20 initial public offerings on the AIM market while a corporate finance manager in London, and Head of Supervision on New Zealand’s Financial Market Authority.

David Rae
David is an experienced investor and director. Most recently he was Head of Investment Analysis for the New Zealand Superannuation Fund, the largest fund manager in New Zealand. He was responsible for assessing investment opportunities, economic analysis and employing responsible environmental, social and governance processes for investments. He has been a Director and observer on the Horizon Roads Group (which owns the Eastlink toll road in Melbourne); and has previously worked as an economist at the OECD, the National Bank of New Zealand and the Reserve Bank of New Zealand.

Tracey Jones
Tracey was Chief Financial Officer and Chief Operating Officer for Tappenden Holdings Limited, being responsible for funds under management, property, finance and operations of one of New Zealand’s largest private investment portfolios.  She is currently a family office consultant, Director of Tutanekai Investments Ltd, Non-executive Director and Audit Committee Chair of Harmoney Corp Ltd (NZ’s first licensed peer-to-peer platform) and a presenter for the Private Wealth Network. She is a Chartered Accountant, member of the New Zealand Institute of Chartered Accountants and a member of the Institute of Directors.

Jamie Tuuta
Jamie is a Director of TIML. His other current roles include being a Director of Taranaki Whanui Limited, Tamaki Makaurau Community Housing Limited, Wools of New Zealand, Aotearoa Fisheries Ltd, Te Ohu Kaimoana Trustee Ltd and Taranaki Iwi Claims Management Ltd. He is also the Chair of Te Ohu Kaimoana Portfolio Management Services Ltd, the Maori Trustee of Te Tumu Paeroa, a member of the Public Sector Advisory Board, a board member of Tourism New Zealand and a trustee of Venture Taranaki Trust.