Westpac super
Westpac

Directors of the Scheme Trustee

 

Bruce Kerr - Chairman

Bruce has been involved with the Scheme for more than 25 years, as a member elected trustee, the Scheme secretary, and as a bank appointed trustee.

He has been granted an Independent Trustee Market Services License by the FMA and acts as the independent trustee director for a number of other workplace super schemes (e.g. ACC & Dairy Industry) and also holds other voluntary governance positions.

Wellington-based, Bruce is widely experienced in the workplace retirement savings arena, having retired after 13 years leading Workplace Savings NZ (the peak industry organisation representing employers, trustees and members of workplace super & KiwiSaver schemes, as well as industry service providers) in 2016.

Marc Figgins - General Manager, Human Resources and Communications

Marc joined Westpac New Zealand as General Manager Human Resources and Communications in May 2020.

Marc is a senior Human Resources executive with extensive international experience covering all aspects of Human Resources across a number of industries including aviation and financial services. Prior to joining Westpac New Zealand, Marc was General Manager People for Revenue and Operations divisions at Air New Zealand, a role that was responsible for driving the people strategy to support over 5,000 people across 11 countries. While based in Hong Kong, Marc also held senior leadership roles in the International Division of ANZ Bank, and for Standard Chartered Bank.

Marc holds a Bachelor of Laws from Waikato University, and has also completed a post graduate programme with Stanford University on leading organisational change and renewal.

Ian New - Former Chief Actuary

Ian is a Westpac-appointed Director and was formerly the Chief Actuary of Westpac New Zealand prior to April 2022. He was the Appointed Actuary of Westpac Life-NZ-Limited up until completion of the sale of that company to Fidelity in February 2022. Ian is a director of BT Funds Management (NZ) Limited.

A graduate of Imperial College London, Ian has over 40 years’ experience in the financial services sector, including in the UK and New Zealand. Ian is a retired Fellow of the NZ Society of Actuaries and has previously served as President of that organisation.

Grant Hassell - Licensed Independent Trustee

Grant has over 35 years’ experience in financial services and investment markets.

He was most recently chair of Macquarie Asset Management New Zealand Limited (formerly AMP Capital Investors (New Zealand) Limited) and held a number of senior leadership roles during a long career with AMP Capital.This included over 3 years as Global Head of Fixed Income following 3 years as Managing Director and 9 years as Head of NZ Fixed Interest. He played a key role in several mergers and acquisitions including the sale of AMP’s global equity and fixed interest business to Macquarie in 2022, the sale of AMP Life to Resolution Life in 2020, and the purchase of AXA in 2011. Grant is a former Trustee Director of the AMP Staff Superannuation Scheme.

Grant resigned from Macquarie in September 2022 and became a Professional Director. He is currently a director of the Police Super Scheme, Shell NZ Pension Plan, Toyota NZ Group Pension Plan and the Local Government Superannuation Scheme.

The role and duties of a Trustee Director

Put simply, the role of the trustee directors is to make sure the scheme is managed properly. This means a trustee director must give the management of the scheme proper care and attention and make sure the scheme operates according to the law and the scheme’s trust deed.

The trust deed is the Scheme’s governing legal document. It sets out the obligations that a Trustee Director has towards the members of the scheme and the duties and powers of the trustee.

The members of the Scheme are also bound by the provisions of the trust deed.

The basic duties of a Trustee Director are to: 

  • manage the scheme in accordance with the terms of the trust deed governing the scheme and the Statement of Investment Policy and Objectives (SIPO)
  • exercise the care, diligence and skill that a prudent person would exercise in the same circumstances
  • act honestly
  • act in the best interests of scheme members
  • treat scheme members equitably
  • not make use of information acquired as a result of being a trustee director to gain an improper advantage or cause detriment to members
  • properly invest trust funds
  • seek advice (where appropriate)
  • exercise discretions properly and in good faith
  • act in accordance with relevant legislation governing superannuation schemes such as the Financial Markets Conduct Act 2013
  • monitor outsourced service providers
  • ensure reports and information are provided to the members and regulator as required.