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Fundamental change at NZX

Tuesday, July 25th 2006, 2:46AM
New Zealand Exchange has appointed Stephen Armstrong as its chief financial officer and Eric Reitman as head of strategy.

NZX says these appointments "signal the beginning of a fundamental change within the NZX structure."

It says it needs specialised skills in finance and strategy execution. "Executives dedicated to each function will produce more comprehensive results than under the previous regime."

Armstrong is a chartered accountant and Victoria University MBA graduate, who has held a number of finance roles in New Zealand and overseas, most recently at Meridian Energy, one of New Zealand's largest state owned enterprises, as the financial controller.

Reitman did his undergraduate degree at Harvard and also studied law at the University of Virginia. He has worked in two technology companies, as well as McKinsey's London office.

NZX has also appointed Stuart Turner to lead the development of New Zealand's clearing and settlement infrastructure. He was the head of market operations for the Dubai International Financial Exchange (DIFX) and recently set up the DIFX Clearing, Custody and Settlement system. Prior to that, he was the Head of IT at the UK Power Exchange Limited, and began his exchange technology career at OM Group, an exchange company from Sweden.

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