The recently resigned Financial Markets Authority (FMA) board member, Mark Weeknink, has joined Generate as a non-executive director.
Weenink, Todd Corporation general counsel, left the FMA governance role two years into a five-year term early in May. His departure coincided with the appointment of Craig Stobo as new chair of the regulator to replace the long-serving Mark Todd.
Prior to joining Todd Corporation late in 2022, Weenink spent more than six years as Westpac NZ general counsel following an almost eight-year stint as Minter Ellison Rudds Watts managing partner.
He also held several senior legal roles in the UK and a brief turn with the Australian financial services firm, Challenger.
Generate chief, Henry Tongue, said Weenink “brings a vast wealth of knowledge and experience” to the KiwiSaver and funds management firm.
The Auckland-based boutique, which boasts more than $5.2 billion of KiwiSaver funds under management, also hired from the FMA executive ranks in 2021 by appointing Nick Kynoch as general counsel. Kynoch held the same role at the regulator.
Kynoch was named to the Generate board last year in a line-up that also includes Tongue along with portfolio manager, Sam Goldwater, and two non-executive directors – Peter Brook and Helen Robinson.
Scott Weenink, Mark’s brother, resigned as Generate chair last year after seven years on the board to head NZ Cricket.
Meanwhile, Russell Investments veteran, Pete Gunning, has stepped down as head of Asia-Pacific for the firm to make way for recent recruit, Jason Edgar.
Edgar joined Russell in Australia last year as corporate development director following an almost 10-year career with MetLife driving the insurer’s “strategy in Asia, including four years in Hong Kong” as head of strategy and growth partnerships in the region, according to a release.
Russell global chief and chair, Zach Buchwald, said in a release that Edgar would “develop and execute on our ambitious strategy to engage clients and prospects throughout the APAC region”.
Gunning returned to head Russell APAC late last year amid an executive reshuffle at the global multi-manager and consultancy firm. He previously held the role for eight years until 2021.
But Gunning will remain as vice chair of Russell – a firm he joined in 1996, serving in many senior positions along the way including global chief investment officer.
Russell NZ head, Matthew Arnold, left the business last month with the role expected to remain vacant. Senior staff in the Russell NZ arm report to Tim Furlan, who was named to head the Australasia division in October 2023.
