Ki­wibank raids ri­vals for top ex­ecs

Rotorua Daily Post - - Business - Tam­syn Parker

Ki­wibank has raided its ri­val Aus­tralian-owned banks to poach two new se­nior ex­ec­u­tives.

Mike Hen­drik­sen has joined the state-owned bank as chief le­gal of­fi­cer. He was pre­vi­ously as­sis­tant gen­eral coun­sel and chief com­pli­ance of­fi­cer at West­pac New Zealand, for nearly seven years, af­ter a job with In­land Rev­enue.

Hen­drik­sen’s loss will be a blow to West­pac at a time when bank com­pli­ance is heav­ily un­der the spot­light.

All New Zealand banks are due to re­port back to the Fi­nan­cial Mar­kets Au­thor­ity and the Re­serve Bank of NZ by March on their progress with meet­ing con­duct and cul­ture short­falls high­lighted by the reg­u­la­tors last year.

Steve Jurkovich, Ki­wibank chief ex­ec­u­tive, who took over the top job last year af­ter a move from ASB, said Hen­drik­sen was a highly qual­i­fied bar­ris­ter and so­lic­i­tor.

“Mike will bring in­depth knowl­edge of reg­u­la­tory is­sues. He’s been deeply in­volved in the re­sponse to the find­ings of the Aus­tralian Royal Com­mis­sion that sparked both the FMA and RBNZ’s re­view of bank­ing con­duct and cul­ture.”

Jurkovich said Hen­drik­sen would be in­stru­men­tal in help­ing Ki­wibank con­sider its own changes — both in re­sponse to the chang­ing ex­pec­ta­tions of its stake­hold­ers, and for our lo­cal reg­u­la­tors, who wanted to see ev­i­dence of great cus­tomer out­comes.

El­liot Smith will also join Ki­wibank next week as its chief strat­egy and in­no­va­tion of­fi­cer. Smith was pre­vi­ously gen­eral man­ager of strat­egy and busi­ness trans­for­ma­tion at the ASB. Jurkovich said the in­dus­try was fac­ing dis­rup­tion and Smith had an ex­cel­lent un­der­stand­ing of how to make the most of those op­por­tu­ni­ties.

“Both El­liot and Mike bring a wide range of skills and ex­pe­ri­ence that make them ideal for Ki­wibank’s next phase of growth, which will see us have much big­ger im­pact on the [NZ] bank­ing mar­kets.”

Both men will be based Ki­wibank’s Auck­land of­fice. in

Steve Jurkovich, Ki­wibank chief ex­ec­u­tive

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