Frank Aldridge Appointed To NZX Board

NZX today announces the appointment of Frank Aldridge to its Board. 

Frank is currently the Managing Director of Craigs Investment Partners, which is partly owned by Deutsche Bank Group and is one of New Zealand’s largest investment advisory and management firms with more than NZD$13 billion in funds under management. Frank joined Craigs Investment Partners in 1997 and brings to the NZX Board an extensive understanding of New Zealand’s capital markets. 

Frank held several positions at Craigs Investment Partners before being appointed as CEO in 2005. He is currently Chair of Australian-based Wilsons Advisory and Stockbroking, a director of the New Zealand Securities Industries Association, and sits on several of Craigs Investment Partners’ subsidiary Boards. Frank is an accredited NZX Advisor and a Chartered Member of the Institute of Directors. 

NZX Chairman James Miller commented: “I am extremely pleased to announce that someone of Frank’s calibre will join the NZX Board. Frank has a proven track record of contributing to New Zealand’s capital markets and is well respected by the industry. I am confident that given Frank’s strong industry experience he will make a valuable contribution to our Board.” 

The Board also announces that longstanding director Neil Paviour-Smith will retire from the Board at the upcoming Annual Meeting on 30 June 2017 after nearly 15 years of distinguished service. During Neil’s tenure NZX has gone from being a small, unlisted stock exchange operator with a market value of under $30 million to a listed, diversified markets business with a market capitalisation of nearly $300 million. 

James Miller commented: “Neil has made an outstanding contribution to NZX. During his time on the Board, New Zealand’s capital markets have experienced significant growth and there have been huge improvements in the governance and management of our markets. It has been my privilege to serve alongside Neil and I personally thank him for his dedicated service not just to NZX but our broader capital markets network.” 

In appointing Frank, the Board were looking to replace the skills and experience which Neil contributed as a director. It therefore determined the Board would benefit from a director with extensive experience leading a large financial services firm, strong equity capital markets and funds management experience, and prior corporate governance experience. The Board is pleased to have identified a candidate of Frank’s calibre with this skill set. 

Frank’s appointment completes a renewal process ahead of the 2017 NZX Annual Meeting of Shareholders. Frank joins the Board following the appointment of director Richard Bodman in March. The appointment of Anna Molloy as NZX’s inaugural participant in the Future Director programme has also recently been confirmed.