Sharechat Logo

Heartland names Air NZ's deputy finance chief David Mackrell as new CFO

Thursday 19th January 2017

Text too small?

Heartland Bank has named Air New Zealand deputy finance boss David Mackrell as its new chief financial officer. 

The incoming CFO will start on Feb. 15, replacing Simon Owen who announced his resignation in November, ending a 13-year stint with Heartland and its predecessor, Marac Finance. Mackrell spent 12 years as Air NZ's deputy CFO, having joined the national carrier in 1992. 

Heartland missed out on buying ANZ Bank New Zealand's UDC Finance unit, which was picked up by China's HNA Group for $660 million earlier this month. 

The Auckland-based bank raised $20 million last month and wants a further $10 million via a share purchase plan which it will use to bolster its capital ratio after a period of credit expansion. The funds would also help pay for an expanded online offering, with Heartland investing in data analysis to "more precisely" target its customers and supporting digital origination. 

The shares last traded at $1.52, up 26 percent over the past year.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares up, led by Fisher & Paykel Healthcare, Ryman
NZ dollar heads for 0.1% weekly fall with jittery markets over weaker yuan
Xero quits developing in-house US payroll product, signs up with Gusto
Farming, horticultural groups seek flexibility in zero emissions plans
Hawaiki Submarine Cable begins commercial operations
Net migration falls in June, remains historically high, Stats NZ says
Commerce Commission files proceedings against Wilson Parking, seeks penalty
SeaDragon's funding transaction unfair but positives outweigh negatives, say independent advisers
Morningstar cuts earnings forecast for Z Energy but maintains hold rating
July 20th Morning Report

IRG See IRG research reports