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02-03-2018, 11:59 AM
#521
Junior Member
https://www.stuff.co.nz/business/101...mpany-troubles
Looks like old mate didnt want to claim any more awards!
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02-03-2018, 12:00 PM
#522
Originally Posted by BlackPeter
Always good to see when deserving New Zealanders get knighted.
Four gongs on the chopping block.
Naughty Sir Bob Jones for his satirical piece suggesting Maori might like a "Gratitude Day"
Sir Ralph Norris for overseeing shareholder wealth destruction in FBU
And now Sir John Wells.
I'm also going to put Sir John Key on the list for allowing Air NZ to do a Safety Video based in Antartica.
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02-03-2018, 12:03 PM
#523
Originally Posted by BlackPeter
Time to honor the CBL board which worked so hard to make shareholder funds disappear over night?
Obviously - we don't know yet whether it was just sheer incompetence or worse, but their silence is deafening.
So - lets start with the chair Sir John Wells KNZM, FCA: http://www.cblinsurance.com/about-us...ors/#johnwells
Always good to see when deserving New Zealanders get knighted.
Still - I am wondering how the investors and Kiwisavers who joined Fisher Funds feel these days? He is chairing this fund as well. He is as well sitting in the governance of Sheffield North Island Limited, MartinJenkins & Associates Limited and he is an advisory board member of Marsh Limited.
I am sure all these investors will feel safe in the knowledge that a real knight is watching over their investments.
Time's up for the NZ Honours system, lost credibility decades ago.
Last edited by IAK; 02-03-2018 at 12:07 PM.
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02-03-2018, 12:03 PM
#524
Originally Posted by JoeM
How sad.
Out goes the door with the credibility of the EY Entrepreneur of the Year award.
But notice that FMA and NZX have sprung into action - as if it really matters as there's nothing to levy a fine at.
What a sick joke the NZX and FMA are at looking proactively after investors' interests.
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02-03-2018, 12:06 PM
#525
Originally Posted by Balance
How sad.
Out goes the door with the credibility of the EY Entrepreneur of the Year award.
Since I am in the mood for lists:
Also Deloittes for putting PEB on their Top50 fast growth companies.
And possibly a bit unfair, but timely, PWC for stuffing up Oscar Awards
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02-03-2018, 12:09 PM
#526
Mr Harris total rem in 2016 was a cool $2.6m
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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02-03-2018, 12:24 PM
#527
Originally Posted by winner69
Mr Harris total rem in 2016 was a cool $2.6m
Nothing though compared to the sale of 5m shares at $3.26 to 'aid liquidity'?
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02-03-2018, 12:32 PM
#528
Originally Posted by minimoke
Good to see they avoid Sky TV. And people pay for this funds management!
They had Wynyard when it went under!
15.8m shares in fact.
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02-03-2018, 12:38 PM
#529
Well, so lets look at another member of the distinguished CBL - board: Alistair Hutchinson - the deputy chair and an "order of merit" for Samoa. Good to know that Samoa seems to use similar criteria like New Zealand to recognize their most distinguished people.
Alistair Hutchison - Deputy Chairman
Alistair participated in the buy-out of CBL Insurance in 1996. He has a background as an economist and has specialist expertise in financial services, public administration and micro lending.
Alistair is a past member of the Board of Governors, World Bank, International Monetary Fund and Asian Development Bank and was previously the Financial Secretary of Samoa. He currently holds equity participatory positions in various financial services companies in New Zealand and the Southwest Pacific and is Chairman of Federal Pacific Group Limited.
Alistair has post graduate degrees in Accounting and Economics from Victoria University, New Zealand. In 2014 he was awarded the order of Merit of Samoa for services to Samoa.
He is as well chairman of the Federal Pacific Group Limited.
https://www.propbd.co.nz/hutchisons-...eneva-finance/
Ouch - I guess this was after the GFC, but is it really an advantage to be affiliated with Geneva finance? Must have missed that during my due diligence process into CBL.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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02-03-2018, 12:43 PM
#530
Peter Harris no longer off to Monaco for his EY Entrepreneur of the Year representative. Does second place getter get to go?
Hers Peters winning entry
Peter Harris, CBL Corporation
Risky business built on trust
Old school values and building enduring relationships have helped Peter Harris go global.
In building up a brand with eight offices, spread across 25 countries and with close to 550 employees, in both an entrepreneurial and business sense Peter Harris thrives on risk.
Beginning his career as an accountant for the Fletcher Group, he left the corporate world to pursue export marketing and merchant banking. Peter made his move into the insurance world in 1989 as an executive director of Boston Marks Group.
His next foray into the risk mitigation world came with his participation in the buyout of CBL Corporation. When he took the helm in 2000 the business had two employees and one office.
Under Peter’s leadership CBL has grown, both organically and through acquisition, into an international specialist insurer and reinsurer specialising in credit and financial risk.
CBL has achieved an annual growth rate of 37% over 16 years. Peter led the business through a highly successful IPO in 2015 followed by listing on both the NZX and ASX. This was a first in New Zealand under the new Financial Markets Authority listing rules. In June 2017 the company entered the S&P/NZX50 Index.
Significantly, 98% of revenue is derived from overseas markets. In order to achieve this Peter's sought to build strong partnerships with expert distributors, with proven capability, around the world.
This personal approach, blended with old school values, conquered overcame what could have been a game changing hurdle; namely new partners agreeing to do business with a small specialist insurer from New Zealand that no one had heard of.
Moreover CBL has achieved this growth without a credit rating in the early years, simply because it was trusted.
Going global has required Peter to customise solutions to meet customer needs. The company has further delivered real value to customer transactions by providing intelligent risk capital and technological innovation.
We remember where Old School values got Alan Hubbard. EY dont
Last edited by minimoke; 02-03-2018 at 12:46 PM.
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