The NZ Superannuation Fund (NZS) has filled one governance vacancy, naming Tainui Group chair, Hinerangi Raumati-Tu’ua, as a new board member last week.
Raumati-Tu’ua has held “directorships with iwi organisations, listed companies, and Crown and Council-Controlled entities, among them the Reserve Bank of New Zealand and Genesis Energy”, according to a NZS statement.
Newly appointed NZS chair, John Williamson, said: “Hinerangi’s iwi/Māori networks, her commercial expertise and her broad experience as a director will be extremely valuable to us.”
Former NZS chair, Catherine Drayton, resigned early into a second term on the board in March with several other directors due to depart this year.
In a recent briefing to the incoming minister, the NZS board also noted that the relatively low fees on offer was making it hard to find suitable directors.
The $70 billion sovereign wealth fund is also amid a leadership transition with new boss, Jo Townsend, arriving just as chief investment officer, Stephen Gilmore, walks out.
Gilmore handed in his notice last week to assume the CIO role at the almost US$500 billion Californian government employee pension fund, CalPERs, in June. He joined the NZS in 2019 after a stint as chief investment strategist for the Australian government Future Fund.
Elsewhere, the rise of artificial intelligence (AI) has prompted Mosaic Financial Services Infrastructure to host a new education program for those looking to get up to speed with the fast-moving technological trend.
Mosaic will offer the AI Governance Professional (AGIP) certification course via a two-day “face-to-face, instructor led course” slated for both Wellington and Auckland.
“There is a rapidly growing need for qualified, well-trained professionals to ensure AI systems are developed, integrated and deployed in line with emerging AI laws and policies, and in ways customers can trust,” the consultancy firm says.
The AGIP program was developed by “experts in the fields of privacy, law, ethics, academia, computer science and more”, Mosaic says.
Further details are available here for the first course set to be held in Auckland over June 13-14 and in Wellington on November 7-8.
Across the ditch, JANA has moved two senior research executives to the product arm of the business, naming Claire Simpson and David Schnell as head of investments and head of diversified portfolios, respectively.
Simpson moves from her role as infrastructure research co-head to “lead the strategic direction of the JANA Investment Trusts, focusing on performance and client outcomes”, a release says.
Previously a senior investment consultant, Schnell now works alongside the JANA portfolio design team with duties including asset allocation strategic development for implemented consulting clients.
Leon Tisdell, JANA implemented consulting head, said in the statement: “Claire and David bring a wealth of knowledge to their respective positions, with insights and expertise that will undoubtedly enrich our strategic approach.”
JANA has claims as the largest investment consulting house in Australia with a solid presence in NZ, too, that includes marquee clients Foundation North, Trust Waikato and Otago Community Trust.
The group is also the investment adviser to the $6 billion BNZ KiwiSaver and fund business, which is in transition to a new ownership structure under the FirstCape banner also set to house the wealth advisory arms of Jarden and JBWere as well as Harbour Asset Management.
Current full owner of BNZ, the National Australia Bank, will keep 45 per cent of FirstCape with Pacific Equity Partners holding 35 per cent and 20 per cent for Jarden.
JANA is expected to retain its consultancy gig with BNZ following the formal move to FirstCape