Ralph Stewart AXA's new ceo

Monday, August 16th 2004, 1:35PM

AXA New Zealand has appointed Ralph Stewart as chief executive based in Wellington. Stewart will replace Vaughan Underwood, who has decided to leave AXA after two-and-a-half years as CEO.

Stewart joined AXA in September 2002 as General Manager, Wealth Management following stints at Tower, where he was Head of Marketing & Strategic Development. He has over twenty years experience in financial services, holds an MBA from Manchester University and outside of AXA enjoys as much time as possible with his family – wife Anita and children Harry and Sophie.

“I’m really looking forward to the challenge of growing AXA’s position in the New Zealand marketplace, building on the excellent foundation that’s been established by our senior management team under Vaughan’s leadership,” said Stewart.

“We’re in a strong position across both risk insurance and superannuation, and we’re number one in the market for investment funds under management. My role will be to build on that foundation and grow AXA’s market presence locally through our extensive nationwide distributor network.”

Stewart will report to Melbourne-based Andy Penn, Chief Executive Officer, AXA Australia & New Zealand, as a member of AXA’s Australia and New Zealand Executive Leadership Team.

Outgoing CEO Vaughan Underwood, who plans to take a short break to spend more time with his family in Auckland before deciding on his next career move, endorsed Stewart’s appointment.

“I am delighted that Ralph has agreed to take on the role of leading AXA in New Zealand. He has extensive experience in the New Zealand financial services marketplace, latterly as General Manager Wealth Management across both the AXA and Spicers brands, and will provide continuity for the New Zealand business, ensuring that we continue to build on our market position moving forward.”

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