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The Guardians of New Zealand Superannuation, the Crown entity that manages the $55 billion NZ Super Fund and oversees the Elevate NZ Venture Fund, has made two key appointments.

Paula Steed has been appointed as General Manager Finance & Investment Operations. In this role Ms Steed will have responsibility for the Guardians’ Finance, Tax, Internal Audit and Investment Operations teams.

Currently the Chief Internal Auditor at ASB Bank, Ms Steed has previously worked as Chief Financial Officer at UDC Finance and as Division Financial Controller at ANZ. She has also held senior finance roles at AMP and Deloitte.  Ms Steed has a BCA in Accounting and Commercial Law from Victoria University of Wellington.

Mark Fennell, currently the Guardians’ General Manager Portfolio Completion, has been appointed as General Manager Risk. In this role Mr Fennell will be responsible for the Guardians’ Risk, Data Services and Records Management teams.

Mr Fennell joined the Guardians in 2007 as Chief Operating Officer, becoming General Manager Portfolio Completion in 2012. Prior to joining the Guardians he held senior treasury or risk management roles at The Warehouse Group, Forestry Corporation, Ministry of Foreign Affairs and Trade and NZ Railways Corporation. He has a Master of Soc. Sci (Hons) from the University of Waikato, is a member of Chartered Accountants Australia and New Zealand, a certified member of the Institute of Finance Professionals (INFINZ) and a member of the Institute of Directors.

The appointees, who take up their new roles on 5 July, will report to CEO Matt Whineray.

Mr Whineray said the appointments followed a robust search process. “I’m excited to add Paula to the team and am looking forward to the new ideas and perspectives she will bring to the Guardians. Mark’s appointment will contribute significant institutional knowledge and experience to the key role of GM Risk and help strengthen our focus on enterprise and portfolio risk management.”

A search process will be undertaken shortly for the role of General Manager Portfolio Completion.