Heartland appoints Deborah Taylor to board

Heartland New Zealand, the bank which formed after the merger of Canterbury and Southern Cross building societies and Marac Finance, has appointed Deborah Taylor to its board, effective from today.

Taylor will be an independent director and comes after the retirement of Gary Leech from Heartland's board at the end of October. Taylor is currently on the boards of Silver Fern Farms, Radio New Zealand, Landcare Research New Zealand, and Hirepool Group, and is also a member of the External Reporting Board and New Zealand Accounting Standards Board.

Last month, Heartland reported a 13 percent increase in first quarter profit in its banking subsidiary, which doesn't include its recently acquired reverse mortgage unit.

The lender's shares fell 0.9 percent to $1.16, having gained 38 percent this year. The stock is rated an average 'hold' based on three analyst recommendations compiled by Reuters, with a median price target of 97 cents.

BusinessDesk.co.nz

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