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Nine heavy-hitters join Stearne on capital markets revival attempt

Monday 4th March 2019

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Nine financial markets heavy hitters have been named to join the steering committee of the capital markets review announced by stock exchange operator NZX and the Financial Markets Authority in January.

Review chair Martin Stearne, a corporate consultant and former managing director of merchant bank FNZC, says he’s pleased with the industry response and the quality of the lineup.

Those appointed are Rob Campbell, chair of SkyCity and Tourism Holdings, Rachel Dunne, a partner at law firm Chapman Tripp, Ross George, managing director of private equity firm Direct Capital, James Lee, chief executive of FNZC, Westpac chief executive David McLean, Forsyth Barr managing director Neil Paviour-Smith, Rebecca Thomas, chief executive of Mint Asset Management, New Zealand Superannuation Fund chief executive Matt Whineray and Geoff Zame, head of institutional equities at Craigs Investment Partners.

The committee is tasked with trying to revive equity listings which have fallen to 138 in December 2018 from 173 in December 2015. It is expected to deliver a 10-year vision and growth agenda for capital markets.

Stearne says appointing the committee is just the first step and that they will be engaging broadly with the parties that make up New Zealand’s capital markets ecosystem.

The review is supported by accounting firm EY, to head the review, with the results expected to be published in the September quarter of this year.

(BusinessDesk)

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