The board of directors of the New Zealand Exchange, NZX Limited, announced today the appointment of Mark Peterson as its new Chief Executive Officer, effective immediately.
Mark, who has been Acting CEO since January 2017, was finally appointed to the position after an exhaustive global search failed to find a more capable candidate. Commenting on the board’s choice, NZX Chairman James Miller cited Mark’s more than 25 years’ experience in the financial services sector covering capital markets, share broking, private wealth, and institutional and retail banking, adding that Peterson would bring to the CEO role a continued focus on strengthening NZX’s relationships with its key stakeholders, while strategically growing the business to ensure it is best placed to compete domestically and internationally.
Miller went on, “Mark has shown himself to be a highly capable leader during his time at NZX and more recently as Acting CEO. In addition to his extensive markets experience, Mark has been instrumental in transforming staff engagement, with his clear communication skills and collaborative leadership style. He has also led the successful development of NZX’s Wealth Technologies business and has a proven track record of sound commercial judgement.”
Newly appointed CEO Peterson said, “It is a privilege to lead NZX, an organisation which plays a pivotal role in supporting New Zealand’s capital markets. I welcome this opportunity to keep growing our markets, and I am committed to building a very collaborative team at the centre of this network, which engages, seeks feedback, and in turn delivers greater value for our customers and shareholders.”
In its search for a suitable CEO, NZX hired governance services firm Propero Consulting to survey a wide sample of stakeholders in order to identify the characteristics and values the ideal candidate would be expected to possess. Propero passed the information on to “people advisory firm” Korn Ferry International, who embarked upon a global search to find an individual with the skills required to fit the bill. According to the survey, these skills included passion for financial markets, reputation for creating strong stakeholder relationships, extensive markets knowledge, and a sound understanding of technology, not to menton the ability to generate a simplified strategic vision for NZX to ensure value creation for shareholders in the future.
The global search finally narrowed its sights on Mark Peterson, who has been with NZX since 2015, when he joined as Head of Markets. Prior to joining NZX, Mark was the Managing Director of ANZ Securities. He has held executive roles with FNZC (formally First NZ Capital) and The National Bank of NZ, and was the Chief Operating Officer at the ANZ Institutional Bank. He is a former Chairman of the NZ Securities Industry Association.