The companies working toward merging to establish a listed banking and financial services group have named a board of directors and designated executive team for the new entity.The boards of CBS Canterbury, Southern Cross Building Society, Marac and its o
The companies working toward merging to establish a listed banking and financial services group have named a board of directors and designated executive team for the new entity.
The boards of CBS Canterbury, Southern Cross Building Society, Marac and its owner Pyne Gould Corporation signed a binding merger implementation agreement last month.
Today they said Pyne Gould and Marac chairman Bruce Irvine was now also the chairman of Building Society Holdings, the new entity which is to be the listed holding company of the merged group.
The managing director-designate of the new entity is Jeff Greenslade, who is the chief executive of Pyne Gould and Marac.
Subject to regulatory and stakeholder approvals and satisfaction of other conditions, the merger is due to take effect from January 1. Listing is being targeted for early February.
Mr Irvine said the formal appointment of the designated executive team to positions within the new entity remained subject to the successful outcome of the merger process, and individual confirmation.
Other members of the Building Society Holdings board are PGC director George Gould, CBS chairman Gary Leech, CBS director Graham Kennedy, Southern Cross Building Society director Christopher Mace and company chairman Geoffrey Ricketts, PGC and Marac director Bryan Mogridge, and Marac director Michelle Smith.
The chief financial officer designate of Building Society Holdings is PGC and Marac chief financial officer Sean Kam.
Following the merger, the members of the board and designated executive team who are also members of the board and executive of PGC will continue to carry out their responsibilities to PGC.
