Pasley tipped to be next BNZ chairman

Press, 21 July 1989, Page 2

Pasley tipped to be next BNZ chairman

By

PATTRICK SMELLIE

in

Wellington A prominent Auckland company director, Mr Syd Pasley, is likely to be the next chairman of the Bank of New Zealand, the Minister of Finance, Mr Caygill, announced yesterday. He announced that the Government, the bank’s main shareholder, would also support the appointment of an Auckland

lawyer, Mr Geoff Ricketts, to the BNZ board. Mr Ricketts is a director of Capital Markets, Ltd, the company which intends taking a 29.5 per cent shareholding in the bank. He will be the third Capital Markets representative on the board. Mr Caygill’s announcement

leaves one vacancy on the ninemember board.

Messrs Pasley and Ricketts replace Messrs Pat Morrison and Peter Leeming, who will both stand down after the bank’s annual meeting on Wednesday. Mr Pasley is no stranger to troubled State-owned enterprises. He has been the chairman of New Zealand Steel since before the formerly Government-owned

steel mill was sold to Equiticorp. He is a former managing director of Alex Harvey Industries, Ltd, is'chairman of Wilkins and Davies, Ltd, and a director of Carter Holt Harvey, Ltd, Lion Nathan, Ltd, and Guardian Royal Exchange Assurance Company.

Mr Pasley, aged 61, is also president of the Auckland Regional Chamber of Commerce.