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Orr to head up NZ Super Fund

Monday 8th January 2007

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He fills the role left vacant by Paul Costello who has moved to Melbourne to head up Australia's Future Fund. The Future Fund is Australia's version of the NZ Super Fund.

Besides being deputy governor of the central bank he is also Head of Financial Stability where he has been responsible for formulating and implementing public policy to promote and maintain a sound and efficient financial system.

Board of the Guardians of New Zealand Superannuation cairman David May said that the appointment is an important step for the fund as it moves from its start-up phase to become an established investment institution.

"Adrian is a committed New Zealander, who brings financial and economic skills and experience in both the private and public sector in leading teams of financial specialists. He is a strong supporter of the mission of the fund and brings just the skills and experience appropriate to lead the fund through its next critical stage of development. We are all looking forward to having Adrian on board."

Orr has previously held the position of chief economist at Westpac, chief manager of the economics department of the Reserve Bank and chief economist at The National Bank. He was selected following a world-wide search process, conducted with the assistance of a specialist executive search firm.

He will take up his appointment on February 12.

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