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KINA BANK STRENGTHENS BOARD OF DIRECTORS WITH TWO NEW APPOINTMENTS

Kina Bank today announced the appointments of industry authorities Andrew Carriline and Paul Hutchinson who bring key risk and commercial expertise to its board of directors. The appointments are effective immediately and reflect the bank’s growing strength as an emerging force in PNG’s rapidly developing financial services sector.

The latest news comes after a series of transformative announcements for Kina Bank recently, including the proposed acquisition of ANZ PNG’s commercial, SME and retail businesses; and the sell-down of shares by its founding and majority shareholder, Fu Shan Investments Ltd. The sale of Fu Shan’s entire stake in Kina Bank in June prompted strong demand from both PNG and overseas investors and saw shares heavily oversubscribed.

Mr Carriline is one of the most prominent business executives in the Asia-Pacific region and joins Kina Bank with more than thirty years’ experience.  He recently retired from one of Australia’s Big Four banks where he sat on the executive team of the institutional banking division as Chief Risk Officer and was Chairman of the bank’s business in Papua New Guinea.

The valuable industry insight and extensive expertise Mr Carriline brings, positions Kina Bank to become the most dynamic, progressive and accessible financial services company in PNG.

Paul Hutchinson was the Managing Director and Chief Executive Officer of Australia’s Rural Bank after nine years leading the business. He led the entire transformation of the organisation through his dedicated focus on service excellence and risk management.

The strong strategic thinking Mr Hutchinson brings to Kina Bank is part of the ongoing transformation of the bank to become a better, genuine alternative banking option for Papua New Guinean customers and communities.

Earlier this year, the board also appointed Jane Thomason as a director. Ms Thomason has worked throughout the Asia Pacific region in international development and policy and implementation for 30 years. Her international career has included work for governments and donors including the Asian Development Bank, the World Health Organisation, the World Bank and the Australian Government.

She has held senior appointments including Queensland Director of Women’s Health and CEO of the Queensland Royal Children’s Hospital. Ms Thomason is an active role model for future women leaders and an active supporter of new technologies, especially blockchain, and their application in developing communities.

Today’s appointments come as Mr Jim Yap retires from the board with immediate effect. The Chairman, Mr Isikeli Taureka, welcomed the new board members and thanked Mr Yap for his valuable contribution over the six years of his directorship on the Kina Bank Board.


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pdf ASX Announcements: Kina Securities Announces Board Change

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