Well-known names join ACC Investment committee

Two experienced fund managers with stints at ANZ, BT and Mint Asset Management have joined the ACC Investment Committee.

Friday, July 9th 2021, 7:23PM

Experienced investment managers and company directors Amanda Smith and Paul Richardson have been appointed as independent members to the ACC Board Investment Committee.

Smith has 26 years’ experience in financial markets and investment management. She is chairperson of Castle Point Funds Management and is of Ngāi Tahu descent.

Richardson has 30 years’ experience in capital markets starting at Buttle Wilson, which became UBS, then BT Funds Management (NZ) Ltd and Mint Asset Management. His board directorships include BNZ Investment Services Ltd, AGInvest Holdings/MyFarm and charity Mindful Money.

ACC Board Investment Committee chairperson James Miller said the board was delighted to welcome the new independent members.

“Amanda and Paul bring years of experience and a wealth of knowledge on financial markets and governance that will be extremely valuable,” he said.

“With proven skills in investment analysis, portfolio management, strategic asset allocation and sustainability, they will help round out the diverse mix of skills we have [with] existing independent members Stephen Montgomery and David Hunt.”

ACC has actively considered any potential conflicts of interest that may arise as a result of both appointments and have put in place a conflict of interest and confidentiality protocol.

Miller also paid tribute to retiring committee member Pat Duignan.

“We express our sincere thanks to Pat after 17 years of outstanding service to the committee and the accident compensation scheme,” Miller said.

“Pat has seen the fund grow from $5 billion in 2003 to the $50b fund it is today, and we have valued his significant expertise and insights.”

Tags: ACC