Pyne Gould prepares to be a bank

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Pyne Gould has made two senior management appointments as part of its plan to become a publicly listed registered bank and asset management company.

Friday, September 11th 2009, 2:10PM

Sean Kam joins PGC as its new chief financial officer and Craig Stephen takes on the newly created position of chief investment officer. 

The company says both men bring significant experience and expertise across the banking, funds management and investment advisory industries to PGC

Kam has "significant operational and strategic management experience that will be of great benefit to MARAC, including managing bank regulatory and financial reporting, as well as having been through the banking application process," PGC chief executive Jeff Greenslade says.

Kam has more than 18 years experience in senior finance positions, predominantly in the banking sector in New Zealand and the United Kingdom. Directly prior to joining PGC he was the chief operating officer and a director of ABN AMRO New Zealand, and before that held the CFO position at Merrill Lynch New Zealand.

Stephen has extensive experience in capital structuring and management, finance, treasury and investment banking.

He has held a consulting role with the company assisting it management to prepare PGC for its new strategic direction.

Stephen has run a successful consultancy business over the past five years, prior to which he held a variety of senior positions in both the banking (Westpac) and corporate sectors (Fonterra).

In a third appointment Alan Williams is to become group head of product and distribution development.

He will move from his current position of CFO to take on the role of Group Head of Product and Distribution Development.

"This is a new and important position for the company. Alan's many years of experience makes him ideally suited to helping us manage the very real opportunities that we see from delivering products and services to our extensive and loyal customer base," Greenslade says.

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