IRD KiwiSaver leader takes charge of Gareth Morgan
The leader of the Inland Revenue team that implemented KiwiSaver has been appointed chief executive of Gareth Morgan Investments (GMI).
Monday, March 15th 2010, 1:32PM
by Jenha White
From today Cathy Magiannis takes full responsibility for the day-to-day management of the business.
Directors Gareth Morgan and Andrew Gawith say the impetus for the appointment is the continuing rapid growth of the company.
"Andrew and I remain committed to and involved in the business, but we acknowledge the importance of deepening and broadening our senior management team. We are in a growth phase, and we want to make sure we grow properly," says Morgan.
"Cathy led the KiwiSaver implementation team at Inland Revenue, so we've had some insight as to how she assembled and led the team that successfully launched KiwiSaver under a very demanding timeframe."
Gawith says GMI knew it needed someone with a solid background in managing growth and change, but it didn't want a "corporate suit" in the role.
"We are very strong on values around here, client interest being first, second and third priority, so we were also looking for someone who shared our values, and understood the importance of our unique culture."
Magiannis acknowledges that her KiwiSaver connection is obviously very important.
"I've seen this group in action. There's a high degree of integrity in this business. They are growing, but they want to grow properly, they don't want growth to compromise the quality of the customer experience. This is a challenge I'm excited to take on."
With Magiannis on board, Gawith will reduce his day-to-day management role and his hours to shift his focus to specific projects within the business. He will remain a significant shareholder and board member.
Magiannis' appointment won't impact Morgan's role.
Gareth Morgan Investments manages $1.3B for 1,000 private portfolio clients, and 46,000 members of their KiwiSaver Scheme and Superannuation Scheme.
Jenha is a TPL staff reporter. jenha@tarawera.co.nz
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