Ownership and governance
Kiwibank is a wholly-owned subsidiary of New Zealand Post, which is a 100% state-owned enterprise.
The Board of Kiwibank currently comprises seven non-executive directors – four independent directors and three directors appointed by New Zealand Post.
The Kiwibank Board is accountable to New Zealand Post and its shareholding Ministers – the Minister of Finance and the Minister of State-Owned Enterprises – for directing and monitoring the management and affairs of Kiwibank. The Board has delegated day-to-day management to Kiwibank’s Chief Executive, Paul Brock.
Paul Brock has an extensive background in New Zealand’s banking industry, including senior managerial positions with Westpac and Trustbank. He was part of the team that created Kiwibank in 2002. Since then, Paul has held a number of key positions within the bank, including General Manager Marketing and, most recently, General Manager Savings and Transactions.