David McClatchy was appointed to the Board of the Guardians for a five-year term beginning on 1 October 2021 (expiring 30 September 2026). A respected business leader and financial markets professional, Mr McClatchy has returned to New Zealand following a successful career based in Sydney, Australia. There he served as Group Chief Investment Officer of Insurance Australia Group and Managing Director at IAG Asset Management from 2012 until 2019, and before this held the role of CEO and Chairman at ING Investment Management Australia Limited (now ANZ Funds Management).

Before his move across the Tasman, David spent sixteen years with banking and investment management companies in New Zealand. Over the course of his career Mr McClatchy has run and directed multinational investment organisations across New Zealand, Australia and Asia, managing funds for insurance firms, corporates, sovereign wealth funds, superannuation funds, and charities.

David currently serves as a Director of Trust Investment Management Limited, Kingfish Limited, Barramundi Limited and Marlin Global Limited.

David holds a Bachelor of Commerce 1987 from the University of Auckland.

Committee membership:

Audit

Fiona Oliver was appointed to the Board of the Guardians on 24 March 2023. Her term of office expires 30 September 2027. She is a highly experienced director and holds governance roles that span several business sectors including transport, renewable energy, natural gas, technology, commercial property, sport and financial services.

Fiona is a Director of Summerset Group Limited, Freightways Limited, Gentrack Group Limited, Kingfish Limited, Barramundi Limited and Marlin Global Limited and Director and Audit Committee Chair of the Clarus (previously named First Gas) Group companies. Fiona is also a director of New Zealand Water Polo.

Fiona was formerly a Director and Board Audit Committee Chair of Tilt Renewables Limited and BNZ Life Insurance Limited and BNZ Life Services Limited, Chair of Vinta Funds Management Limited, and a Director of Augusta Limited, Public Trust, the National Provident Fund and Wynyard Group Limited (in liquidation). Fiona was also a Member of the Inland Revenue Risk & Assurance Committee.

In her Executive career, Fiona has held leadership roles in funds management including holding the roles of Chief Operating Officer of BT Funds Management (NZ), Westpac's investment arm, and General Manager, Wealth Management for AMP NZ and commercial roles in asset management and private equity in Sydney and London. Before that, she practised as a senior corporate and commercial lawyer both in New Zealand and overseas with a focus on mergers and acquisitions.

Fiona was awarded the New Zealand Shareholders Association Beacon Award in 2021. This recognises outstanding performance in leadership and corporate guidance.

Fiona holds a Bachelor of Arts and Bachelor of Laws (1988) from the University of Auckland (New Zealand). She is also a qualified Solicitor in New Zealand, New South Wales (Australia) and England.

Committee membership:

Employee Policy and Remuneration (Chair)

Hinerangi Raumati Tu’ua was appointed to the Board in April 2024 for a four-and-a-half-year term. A chartered accountant, Hinerangi was formerly Executive Director of Operations at Te Wānanga o Aotearoa and prior to that was Chief Financial Officer of Tainui Group Holdings.

Her governance career includes directorships with various iwi organisations, listed companies, and Crown and Council-Controlled entities including the Reserve Bank of New Zealand. She was the first woman elected to the Parininihi ki Waitōtara board, the first Waikato-Tainui iwi member to be appointed chair of Tainui Group Holdings; and was made a Member of the New Zealand Order of Merit in 2012. She is currently on the Boards of Genesis Energy and Tainui Group Holdings, and chairs the Nga Miro Trust.

Hinerangi holds Bachelor’s and Master’s degrees in Management Studies from the University of Waikato; she is a fellow of Chartered Accountants Australia & New Zealand and a member of the Institute of Directors.