Inaugural Generate director and recently re-appointed chair, Peter Brook, has stepped down after a 12-year board stint with boutique KiwiSaver and investment firm.
Brook joined the Generate board at launch in 2012, overseeing its growth from scratch to managing more than $5 billion today – mostly in its KiwiSaver scheme.
In a statement, Generate chief, Henry Tongue, said Brook had “materially contributed to the success” of the firm,
“Peter will remain as chair of the investment committee and we look forward to his continued involvement,” Tongue said. “Mark Weenink has taken the role of independent board chair.”
Scott Weenink (brother of Mark) resigned as Generate chair last September with Brook stepping into the role again.
Meanwhile, Mark Weenink joined the Generate board in May this year.
The investment manager also named Vaughan Magnusson as a new director.
Magnusson, who currently holds a couple of directorships, has a varied C-suite background including most recently as chief of Allpress Espresso and travel business, Online Republic.
He was also briefly chief of NZ digital discount play, GrabOne, after serving as its chief financial officer for almost three years.
Generate reported a net profit after tax of more than $4.5 million for the 12 months to March 31 this year on fee revenue of about $57 million.
Paul Gregory, ANZ head of investment partnerships, has assumed extra duties running the bank-owned fund manager’s responsible investing team following the departure of incumbent, Helen Skinner, last week.
Skinner was hired to the new role as head of responsible investment for the $30 billion plus ANZ funds management arm in June 2022 after spending almost five years with Craigs Investment Partners in various positions.
She previously held senior sales and service jobs with investment firms in the UK and NZ.
Gregory took on the newly created head of investment partnerships job at ANZ last December, leaving the Financial Markets Authority (FMA) where he was executive director response and enforcement.
Prior to the FMA, he was Pie Funds chief operating officer – joining the boutique manager in 2017 from the FMA where he was head of communications.
Before FMA part one, Gregory held a similar communications position at the NZ Superannuation Fund.