Wednesday, 21 February 2018

Announcement

ADMIN: NZX: Nigel Babbage appointed to NZX Board

19 Dec 2017 15:56NZX
The NZX Board today announces the appointment of Nigel Babbage as a director.

Nigel has more than 30 years'' experience working in financial and capital
markets. This includes 18 years abroad where he held executive roles with
British Petroleum (now BP) and Citibank, managing the New York currency
derivatives desk. In addition to this, Nigel worked for BNP Paribas, where he
took on the joint role of Global Head of Currency Derivatives Trading and
Head of North American Foreign Exchange.

Nigel was elected to the Foreign Exchange Committee of the Federal Reserve
Bank of New York in 2004. He stood down from the Board in 2006 to return home
to New Zealand with his family.

Nigel is currently the Chief Executive Officer of Mohua Investments Limited,
a privately owned investment vehicle based in Christchurch. He was appointed
as independent non-director member of the NZX Clearing Committee when it was
established in August 2017, reflecting his significant global capital markets
and clearing experience.

NZX Chairman James Miller commented: "Nigel has had a distinguished career
working in financial and capital markets in New York, London and Australia. I
have been impressed by Nigel''s contribution to NZX''s Clearing Committee and
am pleased the broader Board will now benefit from his strong global industry
experience. Nigel is a passionate New Zealander who is committed to
developing our local equity market."

"As a Board we are focused on maintaining a balanced set of governance skills
and experience aligned to our strategic priorities, and Nigel''s extensive
clearing and global derivatives experience will also support NZX''s commitment
to accelerate the growth of our world-leading dairy derivatives market as
outlined in the exchange''s recently released strategy."

Nigel''s appointment is effective immediately. He will remain a member of the
Clearing Committee and the Board will consider additional committee appoints
in due course.

In accordance with NZX Main Board Listing Rule 3.3.6, Nigel will retire and
offer himself for election by NZX shareholders at the 2018 Annual Meeting. As
part of the Board''s 2018 customer engagement programme it intends to hold the
Annual Meeting in Christchurch, where Nigel is based. This will follow a
Board meeting and a series of customer and stakeholder visits in the region,
which provide an opportunity for the Board to engage with the region''s
business community.

As required by NZX Main Board Listing Rule 3.3.3(b), the Board has determined
that Nigel is an independent director.

For further information please contact:
Hannah Lynch
Head of Communications
T: 09 308 3710
M: 021 252 8990
E: hannah.lynch@nzx.com
End CA:00312172 For:NZX    Type:ADMIN      Time:2017-12-19 15:56:38
Views: 68
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