NZX creates advisory boards

Monday 16th February 2004

New Zealand Exchange Limited has established four industry advisory boards - NZX Asset Management Advisory Board, NZX Debt Advisory Board, NZX Futures & Options Advisory Board, and NZX Business Advisory Board.

The boards are designed to build a community of advisors throughout the market which will aid in generating, testing, and refining new ideas. They will also enhance communication between NZX, key stakeholder groups such as Government, and important market participants.

"Our goal is to give particular groups of key stakeholders input into the strategic direction of New Zealand's capital markets," NZX chief executive Mark Weldon says.

"We value the experience and expertise others in the market have to offer and believe their ability to contribute in an open, meaningful way will greatly enhance the structure and integrity of our markets moving forward."

Each board contains senior industry experts appointed by the NZX board to serve a 3 year term. They also contain an NZX director and a member of the NZX management team. Boards will meet two to three times each year and are expected to become an important channel for dialogue and feedback with NZX in carrying out its mandate to grow the markets.

"The advisory board structure has worked very well for other exchanges around the world, particularly for the NYSE and the Chicago Board of Trade, which are very well connected and in constant communication with their stakeholders," Weldon said. "We'd like to replicate their success here, by engaging more people directly with the Exchange and ensuring any developments are tailored specifically for the New Zealand markets."

Guardian Trust Funds Management's Anthony Quirk will chair the NZX Asset Management Advisory Board. His deputy is NZ Superannuation Fund ceo Paul Costello. Also on this board are Andrew Bascand (Alliance Capital), Simon Botherway (Brook Asset Management), Andrew South (BT Funds Management), Richard Nelson (Taylor Investments), Louis Bolanger (William M Mercer), Nicholas Bagnell (ACC), Craig Ansley (Russell Investments), Wayne Stechman (Tower Asset Management), Stephen Bennie (NZ Funds Management), Catherine Savage (AMP Capital Investors), Carmel Fisher (Fisher Funds), and Amanda Smith (ING).

The NZX Debt Advisory Board is comprised of David Speight (Direct Broking), David McLean (Westpac Institutional Bank), Kevin Pulley (ANZ Bank), Nick Olsen (TCNZ Finance), Tony Gray (Mighty River Power), David Smith (First NZ Capital Securities), Peter Scobie (AMP Capital Investors), Anthony Limbrick (BNZ Bank), Andrew Allan (National Bank) and Prue Flacks (Russell McVeagh).

The Futures & Options Advisory Board is comprised of Colin Churchouse (OM Financial), Roger Barley (Tricom), Peter Marshall (Access Brokerage), David McClatchey (ING), Mandy Pettit (Forsyth Barr), Rob Keldoulis (Optiver), John Cobb (Goldman Sachs JB Were), Luke Randall (Citi Group Australia Ltd), Humphrey Sherratt (Goldman Sachs JB Were) and Martin Poulsen (First Capital Securities).

The NZX Business Advisory Board is made up of the chief executives from New Zealand's largest listed companies and includes Evan Davies (Sky City Entertainment Group), Theresa Gattung (Telecom), David Hunt (Contact Energy), Don Huse (Auckland International Airports), Ralph Norris (Air New Zealand), Peter Springford (Carter Holt Harvey), and Ralph Waters (Fletcher Building).

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