Pyne Gould Corp has appointed a new chief risk officer to replace the manager who disappeared for several days earlier this year.In a statement released today, the South Island-based finance company said Mark Mountcastle had been appointed to the position
Pyne Gould Corp has appointed a new chief risk officer to replace the manager who disappeared for several days earlier this year.
In a statement released today, the South Island-based finance company said Mark Mountcastle had been appointed to the position, which will be a vital role as the company seeks to turn subsidiary Marac into a bank.
Mr Mountcastle has been acting chief risk officer while former manager Grant Atkinson has been on leave following the February disappearance, but has formally accepted the permeant position after Mr Atkinson’s resignation.
A police hunt was sparked by Atkinson when he temporarily vanished in February, although he was found a few days later “dishevelled and slightly disoriented” after apparently sleeping rough in parks.
Mr Atkinson had worked for Marac since 1996.
Pyne Gould Corp has refused to comment on the possible reasons behind Mr Atkinson’s disappearance, or whether it was linked to an irregular loan found in the company’s books around that time.
While chief executive Jeff Greenslade did not comment on Mr Atkinson’s situation in today’s statement, he said Mr Mountcastle’s 20-year history of risk management in the country’s finance and banking sector made him “ideally suited” for the new role.
“In this position, he is responsible for managing the business’s credit, market, liquidity and operational risks. Mark’s skills in this area along with his banking experience from working for ASB and Westpac will be invaluable to us as we move towards our goal of applying for a bank licence.”
