Guardians of NZ Superannuation appointments Paula Steed has been appointed as GM finance and investment operations and Mark Fennell has been appointed as GM risk.
Wed, 07 Apr 2021 Paula Steed
The Guardians of New Zealand Superannuation, the Crown entity that manages the $55 billion NZ Super Fund and oversees the Elevate NZ Venture Fund, has made two key appointments.
Paula Steed has been appointed as general manager finance and investment operations. In this role, Steed will have responsibility for the Guardians’ finance, tax, internal audit and investment operations teams.
Currently ASB Bank chief internal auditor, Steed has previously worked as chief financial officer at UDC Finance and as division financial controller at ANZ. She has also held senior finance roles at AMP and Deloitte. Steed has a BCA in accounting and commercial law from Victoria University of Wellington.
Appointments – GUARDIANS OF NZ SUPERANNUATION APPOINTS TWO GENERAL MANAGERS TO ITS LEADERSHIP TEAM
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Some workers resigned due to the workplace culture at NZ Growth Capital Partners. (File photo).
A review into a Government venture capital fund which invests hundreds of millions of dollars of taxpayer money found instances of low-level bullying, perceptions of an underlying culture of gender discrimination, and of disrespectful and inappropriate workplace culture. The summary of the review by former Employment Court Judge Graeme Colgan into New Zealand Growth Capital Partners was released on Thursday. NZ Growth Capital Partners invests in early-stage high-growth tech companies, and replaced the New Zealand Venture Investment fund which the Government set up in 2002. It manages the Aspire NZ Seed Fund and the $300 million Elevate NZ Venture Fund, and its performance is overseen and monitored by the Guardians of the New Zealand Superannuation Fund.
Justice Woolford accepted that imports of Western Saharan phosphate posed a reputational risk to New Zealand s wider interests. “There is, however, no suggestion that the risk is due to management and administration of the Fund,” he said.
Scott Hammond/Stuff
New Zealand fertiliser companies Ravensdown and Ballance Agri-Nutrients import about $30 million of phosphate from Western Sahara annually. “Therefore, Guardians has not failed to comply with its statutory obligations in the use of superphosphate on Fund farms.” For years the Front has been trying to put a halt to the extraction of the phosphate from Western Sahara by Morocco, which it says belongs to the Sahrawi people.