"Tim’s contribution during his time at Public Trust, particularly the re-launch of Public Trust as a Crown owned entity and the re-setting of Public Trust’s strategic direction, has laid down a solid foundation for the future," Public Trust chairman Taylor says.
An announcement of a new chief executive will be made in due course.
"The announcement is being made now in advance of his departure so that the board can implement its succession planning process and the transition as seamlessly as possible," he says.
"Much has been achieved over the last 18 months and I leave behind a strong management team and wonderful staff. Much also remains to be done, and that makes leaving at this time harder," Sole says.
"Public Trust is a fantastic organisation and over the next three years I am sure it will achieve the financial results expected of it. After three years of losses, it was good to see the first quarter of this year in profit.
Tim Sole, who has been at Public Trust for 18 months, was previously group chief executive of State Insurance. A qualified actuary, he has an MBA from Victoria University of Wellington and is a past chairman of the Life Offices Association and a past chairman of the Insurance and Savings Ombudsman Board.
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