Kiwi Wealth appoints familiar face as new CEO

Kiwi Wealth, the largest New Zealand-owned KiwiSaver provider, has appointed a familiar face to take over the reins as its new chief executive officer.

Wednesday, December 1st 2021, 9:30AM

After naming Rhiannon McKinnon as its acting chief executive earlier this year, the wealth and investment organisation has cemented her appointment as chief executive, effective from today.

Kiwi Wealth has more than 220,000 KiwiSaver members and more than $9 billion of funds under management.

“I am pleased to be leading Kiwi Wealth into a future where our purpose is very clear – we believe every Kiwi deserves the opportunity to have a brighter financial future," McKinnon says.

"Wealth has always been for the top five per cent but we think it should be for many more people than that.

“Our default fund is an example of how we are doing things differently and more fairly. We are giving choice to our customers at different price points, and looking after people in various parts of the market, all with the confidence and backing of the Government.”

McKinnon’s appointment comes as Kiwi Wealth’s new default fund goes live today after the company was again selected as a default KiwiSaver provider.

Kiwi Wealth chairperson Gregg Behrens says under McKinnon's leadership he is confident in the future of Kiwi Wealth and its ability to deliver great products and services for the benefit of its customers.

McKinnon previously served for three years as general manager of strategy and partnerships at Kiwi Wealth, and after arriving in New Zealand from the UK in 2007, she worked as an executive advisor at Kiwibank and in corporate finance and investor relations at NZ Post.

She also has experience in valuation, financial analysis, and equity research.

UK-born McKinnon, who has Chinese and Welsh heritage, began her career in investment banking with Cazenove and Morgan Stanley in London.

She is a Chartered Financial Analyst and has served three years on the board of the CFA Society of New Zealand and as a board member of various not-for-profit organisations including Dress for Success Wellington, and government entities including the New Zealand Film Commission.

McKinnon has a Master of Arts in History from the University of Cambridge and lives in Wellington with her husband and their three young children.

Tags: kiwi wealth KiwiSaver recruitment Rhiannon McKinnon