7 Apr 2010

Government advisory group named

7:02 am on 7 April 2010

The Government has named a private sector group to advise it on how New Zealand can become an international hub for the funds management industry.

Developing this sector was one of the recommendations put forward by the Capital Markets Development Taskforce last year.

The International Fund Services Development Group will be chaired by entrepreneur and professional director Craig Stobo and will report back to the Minister for Economic Development by the end of May.

Other members include: Caniwi Capital Partners chair and chief executive Troy Bowker, Citigroup New Zealand chief executive Mark Fitzgerald, BNP ParibasNew Zealand chief executive Hugh Stevens and Tower Investments chief executive Sam Stubbs.

The group will consider what regulatory changes will be needed and how the country's existing funds management industry and capital markets could be strengthened.