Currency today’s challenge

privately owned fishing quota holder in New Zealand and played a key role in developing international markets for New Zealand seafood.

Vela has been active in horse racing and breeding for more than 40 years.

Together, Peter and Philip bred and raced Caulfield and Melbourne cups winner Ethereal.

Vela bought Wrightson Bloodstock in 1996, renaming it New Zealand Bloodstock. At the time, Wrightson Bloodstock, a subsidiary of Wrightson Ltd, had been running New Zealand’s premier yearling sale for 70 years. New Zealand horses being named as the best in the world in the international classifications in their respective years – So You Think, Sunline, Ethereal, Might and Power, and just last year Little Bridges was a convincing winner of the Group 1 Sprint at Royal Ascot,’’ he said.

Vela said young Kiwi businesspeople needed to be prepared to take risks ‘‘ but remember success only precedes work in the dictionary’’.

During the past 30 years he had travelled to develop export opportunities for the New Zealand fishing and thoroughbred industries, he said.

Vela’s children were educated overseas and he had strong ties to Europe but his business interests had always been based in New Zealand, he said.

Vela set up a leasing and financing business to help breeders buy bloodstock, and in 1998 he established New Zealand Thoroughbred Marketing to promote New Zealand thoroughbreds around the world. He also helped sponsor Sir Mark Todd’s Olympic efforts.

Vela said he was humbled knighthood.

‘‘ It’s certainly not something you ever set out to attain, or consider might ever happen for that matter,’’ he said. ‘‘ It was a huge surprise and a great honour.’’

Top Christchurch business people dominate the New Year Honours list

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Those named from Christchurch are also linked to repair and recovery projects from the 2010- 11 earthquakes, but Peter Townsend says it is the post- quake efforts of the wider business community that the award really recognises.

‘‘ I take this in recognition of Christchurch, and in recognition of where we’ve been and where we’re going.

‘‘ It’s a recognition of some of the trials and tribulations we’ve been through, and the Canterbury Employers’ Chamber of Commerce

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Photo: PETER DRURY/ FAIRFAX NZ Knighted: The now Sir Peter Vela relaxes at his Opito Bay, Coromandel, beach house. Sir Peter Vela said his knighthood was a ‘‘ huge surprise’’ and a ‘‘ great honour’’. He said he had respect for the systems that celebrated excellence in its many...