Ann: OFFICE: NZX: Highly accomplished NZer return

• Release Date: 31/01/12 10:53
• Summary: OFFICE: NZX: Highly accomplished NZer returns to take NZX helm
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NZX
31/01/2012 08:53
OFFICE

REL: 0853 HRS NZX Limited

OFFICE: NZX: Highly accomplished NZer returns to take NZX helm

Highly accomplished NZer returns to take NZX helm

31 January 2012 - The Board of NZX is pleased to advise that it has appointed
Singapore based New Zealander Tim Bennett to the position of Chief Executive
Officer, effective 7 May 2012.

Tim has almost 20 years' financial services consulting experience, the
majority of which has been in Asia where his most recent role has been as a
Partner in Oliver Wyman's Retail and Business Banking practice. He has
advised a broad range of financial institutions on topics from strategy and
organisational transformation through mergers and acquisitions. A particular
area of focus has been financial markets, where Tim has worked with a number
of different exchanges, governments and private companies in expanding
domestic capital markets and developing new asset classes.

Tim will bring to the CEO role a continued focus on strengthening NZX's
domestic markets, while building its strategic options, particularly via the
company's integrated information, markets and infrastructure offerings.  This
dual strategy, which combines development of New Zealand's equities markets
alongside complementary diversification into other domestic and offshore
markets, has seen NZX's performance outstrip global peers in recent years.

Tim maintains a high degree of connectivity to Asian and other exchange
operators, and is very familiar with Fonterra's GDT offering, thereby
bringing a strong international and domestic focus, particularly with regard
to New Zealand's leadership in agricultural markets.

NZX chairman Andrew Harmos said, "The board has undertaken a thorough, global
search and selection process and is very pleased with the number and calibre
of candidates attracted to the CEO role.  It is a credit to departing CEO
Mark Weldon, and to NZX's management team, that both the company and the role
are seen as providing highly desirable opportunities to local and
international candidates.

"It is particularly pleasing to attract a top expat Kiwi home to invest his
considerable skills and experience, gained offshore, back in New Zealand,"
said Harmos.

Tim Bennett said, "The next few years provide a once in a lifetime
opportunity to accelerate the development of NZX's markets and I'm excited to
be able to contribute to this development not only for the benefit of NZX's
shareholders, but for the country as a whole. New Zealand plays a key role in
agricultural commodities globally and I'm looking to combining my experience
with the foundation NZX has established in dairy futures to grow this area of
the business.

Over the course of his career, Tim has led a number of different areas of the
business at both Boston Consulting Group (BCG) and Oliver Wyman. He led BCG's
Malaysian business post the Asian financial crisis as well as BCG's strategy
practice in Asia Pacific, and was hired by Oliver Wyman to build its Retail
and Business banking practice across Asia.

One of Tim's most notable achievements has been supporting the development of
the iron ore derivatives market.  This entailed working with key sector
stakeholders, including the physical traders, investment banks and potential
participants on a market that reached $10 billion a year in cleared contracts
three years after launch.  The iron ore derivatives market has been credited
with a fundamental shift in the way price risk is managed within the global
iron industry.

ENDS

Attachments:

1. Summary of qualifications and recent experience
2. Tim Bennett pdf file

For further information please contact:

Andrew Harmos
Chairman NZX
[email protected]

Rowan Macrae
NZX Corporate Office
[email protected]
End CA:00219000 For:NZX    Type:OFFICE     Time:2012-01-31 08:53:36