Our company

The ASB Group of companies is one of the largest providers of financial and insurance services in New Zealand. ASB Bank Limited is one of New Zealand's leading commercial banks, committed to delivering on our purpose of accelerating financial progress for all New Zealanders through our products, services and how we support our community.

ASB Group of companies

ASB Securities

ASB Securities Limited is a sharebroking company that provides DIY access to local and international financial markets. ASB Securities Limited is an NZX firm.

ASB Group Investments Limited

ASB Group Investments Limited is a recognised leader in the field of retirement savings and investments.

Executive leadership team

Vittoria Shortt

Chief Executive Officer and Managing Director

Vittoria has been the Chief Executive Officer and Managing Director of ASB Bank since February 2018.

Leading a team of more than 5,500 people, Vittoria is focused on accelerating progress for all New Zealanders. This includes considering the social, environmental and financial wellbeing of our customers and communities in the way we operate. This builds on ASB's 177-year history in supporting a more resilient and sustainable New Zealand.

Vittoria has over 20 years' experience in banking since joining ASB’s parent company, the Commonwealth Bank of Australia (CBA) in 2002. Vittoria's career began in New Zealand, working in Corporate Finance and Mergers and Acquisitions with Deloitte and Carter Holt Harvey.

Vittoria holds a Bachelor of Management Studies majoring in Accounting and Finance from Waikato University and is a Fellow Chartered Accountant with the Institute of Chartered Accountants, Australia and New Zealand.

Vittoria is a member of Global Women in New Zealand and Chief Executive Women in Australia reinforcing her strong advocacy of diversity and inclusion and mentoring women.

Adam Boyd

EGM Personal Banking

Adam joined ASB in April 1995 as a Dealer in the Corporate and Commercial FX Sales team.

Before being appointed Executive General Manager of Personal Banking in 2022. Adam's roles at ASB included Executive General Manager Private Banking, Wealth and Insurance, General Manager of Global Markets, Strategy and Product, and General Manager of Worksmart.

Adam has over 25 years' experience in leading sales teams, with a specialist knowledge of global financial markets.

Adam has a passion for protecting the environment, farming, architecture, and financial wellbeing.

As a leader, Adam believes that similar to the notion that we are only custodians of a business for a short period, managers will only lead people for a short window of their career. With this in mind, Adam's goal is to ensure that each person he leads goes away richer for their experiences at ASB.

Adam is a Board member of the Financial Services Council and has a Bachelor of Commerce in Finance and Economics from the University of Auckland. 

Amie Nilsson

Chief Risk Officer

Amie joined ASB in December 2017 as General Manager, Risk Transformation and was appointed Chief Risk Officer in August 2023. 

She has almost 20 years' experience in the financial services industry having worked across risk, customer experience, operations and front-line banking roles at HSBC and most recently Westpac Bank in New Zealand and Australia. 

Throughout her career, Amie has also developed strong business acumen and experience in business side roles across retail banking, business banking and operations, as well as a track record of successfully delivering complex change programs.

As Chief Risk Officer, Amie is responsible for Risk Management oversight including Enterprise Risk, Operational Risk, Financial Crime, Compliance, Credit Risk, and Market and Liquidity Risk. 

Amie is an action-orientated leader who is passionate about enhancing New Zealanders' long-term financial wellbeing and putting customers at the heart of business decisions.

She has a Bachelor of Commerce and Bachelor of Science conjoint degree and a Master of Commerce with First Class Honours in International Business from the University of Auckland.

David Bullock

EGM Technology and Operations

David joined ASB in December 2018 as EGM Technology and Operations. Prior to this, David was EGM Technology Operations, Risk and Control at IAG. 

David has extensive experience in financial services, having held a number of different roles at the Bank of New Zealand (BNZ), including CFO for the Retail Bank, Head of Innovation, and Head of Business Strategy and Operations for Retail. Most recently, he was BNZ's Executive Director for Products, Digital, Technology and Financial Crime. 

Before working in financial services, David held roles in New Zealand and the UK with New Zealand Post, Thomson Reuters and Yahoo! 

David has a special interest in digital technology, data management and engineering.

As a leader, David believes in the importance of hiring the best people and empowering them to do the best work of their careers. He is passionate about seeing people learn and improve their craft, and believes it's important to stay open and real in every conversation. 

David has a Bachelor of Science (Computer Science) from the University of Auckland.

Carl Ferguson

Chief Financial Officer

Carl joined ASB in May 2012 and was appointed Chief Financial Officer in August 2023. He has over 20 years' experience within the financial services industry across banking, funds management and insurance. 

Prior to his role as Chief Financial Officer, Carl held the Chief Internal Auditor role, and then was appointed Chief Risk Officer. 

As Chief Financial Officer, Carl leads ASB's finance, treasury, property, procurement, tax and model risk centre of excellence functions.

Before moving to ASB, Carl spent 11 years with the Commonwealth Bank of Australia in Sydney where he held a number of General Management roles within Finance.

As a leader, Carl believes in the importance of supporting people to be successful by working together as a team and making everyone feel included. He believes diversity, in its broader sense, helps everyone achieve better solutions overall.

Carl is a qualified Chartered Accountant and has a Bachelor of Commerce from the University of Auckland. He is co-Chair of the ASB Diversity, Inclusion & Belonging Council and founding Chair of Unity, ASB's LGBTI+ network.

Lohit Kalburgi

Chief Transformation Officer

Lohit Kalburgi joined ASB in January 2019 as the Executive General Manager for Corporate Strategy and Customer Experience. In this role, his key focuses are on the development, management and reporting of ASB's strategy, as well as ASB's journey towards becoming a more customer-centric organisation. He is also in charge of ASB's brand, marketing, community, sponsorship and events teams, as well as innovation and payments strategy teams. In 2022 Lohit added transformation capability to his portfolio. As ASB's Chief Transformation Officer, Lohit leads the bank's ambitious five year transformation journey which involves significant investment in technology, systems and people.

Lohit has a broad range of experience across transformation, technology, marketing, product and design, as well as leading a number of entrepreneurial start-ups.

Beginning his career in New Zealand, Lohit has also lived and worked in the UK, USA and Spain, working for large companies including Vodafone, British Telecom, Barclays and global Spanish bank BBVA.

Lohit is passionate about bringing together customer experience and technology for the benefit of accelerating financial progress for all New Zealanders.

As a leader, Lohit believes that leadership is about creating the right environment for the right people, then stepping aside to empower them to do their thing.

Lohit holds a Bachelor of Science and a Bachelor of Commerce from the University of Auckland, an Executive MBA from Henley Business School and a Global Executive Masters in Strategy and Innovation from Parsons.

Jonathan Oram

EGM Corporate Banking

Jonathan joined ASB in 2023 as Executive General Manager Corporate Banking. Prior to this, he was the Chief Financial Officer at The Warehouse Group, responsible for business advisory, financial reporting and planning, risk and compliance and governance functions across the Group, and TWG Business, the commercial channel for the Group.

Jonathan has more than two decades of experience in financial services, including roles as Division Director at Macquarie Group and Head of Investment Banking at UBS New Zealand. In his role at ASB, he is responsible for leading the Corporate Banking, Global Markets, Economics and Global Transaction Banking teams as well as the ASB Securities business.

Jonathan is a certified Chartered Accountant and holds a Master of Commerce in Economics from the University of Auckland. He is also an independent member of Te Whatu Ora - Health New Zealand’s, Finance and Audit Committee, and in his spare time he enjoys the outdoors and spending time with his family.

Stephen Bendall

General Counsel and EGM Business Services

Stephen joined ASB in September 2019 as General Counsel and Executive General Manager of Business Services.

Stephen's role includes the leadership of ASB's Legal Services, Group Governance, Government Relations and Regulatory Affairs, Corporate Affairs and Audit & Assurance teams. Stephen is also ASB's Company Secretary.

Stephen has 30 years' experience as a qualified lawyer and has spent the last 24 years working in and advising the financial services industry.

Prior to this role, Stephen was based in the UK as the General Counsel, EMEA, and International Head of Legal for the Japanese banking and financial services group Mitsubishi UFJ Financial Group (MUFG). Stephen worked for 11 years at Deutsche Bank and prior to that was a lawyer at the global law firm Clifford Chance.

As a leader, Stephen is pragmatic, considered, diligent and meticulous, relishing complex problems and challenges. He is particularly focused on creating a team environment with developmental opportunities for staff and encouraging collective problem solving.

Stephen gained his Bachelor of Commerce and Bachelor of Laws degrees from the University of Auckland, including an accounting major. He is a Barrister and Solicitor of the High Court of New Zealand and a Solicitor of the Supreme Court of England and Wales. 

Rebecca James

EGM Business Banking

Rebecca joined ASB in August 2023 as EGM Business Banking. Prior to this, she was CEO at ASX listed Humm Group, a non-bank consumer and business financier.

Rebecca has almost 15 years' experience in financial services across Australia and New Zealand, holding product, marketing, customer experience, and strategy roles with business lending fintech Prospa and ME bank.

She was also managing partner with Australia's largest independent customer experience consultancy, Lavender.

With extensive entrepreneurial, marketing communications and customer experience, Rebecca is passionate about leading businesses of all sizes and stages and helping to drive innovation, create jobs and stimulate economic growth. 

In her role as EGM Business Banking, Rebecca will lead ASB's commercial, small business and rural divisions.  

Rebecca has a Bachelor of Business and Marketing from the University of Technology in Sydney and completed a Design Thinking course at Stanford University.

Nicola Richardson

EGM People

Nicola (Nic) joined ASB in October 2022 as EGM People. Prior to this, Nic was Chief People Officer at Genesis Energy. 

Nic has extensive global HR experience, holding senior leadership roles in financial services, commercial real estate, utilities and human resource consulting in the UK, Asia and New Zealand.

Nic is passionate about preparing organisations for the future and leading them to be adaptive and relevant while guiding and developing talent to make a difference. She is enthusiastic about creating high performing and thriving cultures that embrace empowerment, inclusion, and wellbeing.

Originally from the UK, Nic moved to New Zealand more than 20 years ago. She has three children and enjoys keeping fit, playing sports and volunteering with her children's sports teams. Nic is also a strong leader of pay equity and advancement and uses her spare time to present and coach in local schools to inspire more young women into STEM career choices.

Nic has a Bachelor of Arts and a Bachelor of Management from the University of Leeds. 

Corporate governance

Board's Role, Responsibilities and Composition

Board's Role and Responsibilities

The role of the Board is to provide leadership and strategic guidance for the ASB Group and delivery of ASB's purpose. 

The Board's role and responsibilities are set out in the Board Charter. 

The key responsibilities of the Board include:

  • Set the strategic objectives and risk appetite of ASB;
  • Approve the Code of Conduct to set the Board's expectations for the ASB Group' values and desired culture;
  • Appoint and set the terms and conditions of the employment of the ASB Chief Executive Officer;
  • Oversee the management, performance, and corporate governance frameworks of the ASB Group; and
  • Manage, or direct and supervise, the business and affairs of ASB.

Board Composition

The size and composition of the Board is determined in accordance with ASB's Constitution, its Conditions of Registration, and any other applicable laws and regulations. The Conditions of Registration require that:

  • The Board must have at least five directors;
  • The majority of the directors must be non-executive directors;
  • At least half of the directors must be independent directors;
  • At least half of the independent directors must be ordinarily resident in New Zealand;
  • The chair of the Board must be independent; and
  • The constitution must not include any provision permitting a director, when exercising powers or performing duties as a director, to act other than in what he or she believes to be the best interests of ASB.

Current membership of the Board is set out below:

Board of Directors

Dame T.M. (Therese) Walsh

Wellington, New Zealand

External Company Directorships: Air New Zealand Limited (Chair), Therese Walsh Consulting Limited, On Being Bold Limited.

Dame Therese Walsh was appointed as a Director of ASB on 13 October 2015 and appointed as Chair of the Board effective 1 September 2021.

Dame Therese is Chair of Air New Zealand Limited. She is also a member of the board of Antarctica NZ and Chair of Chapter Zero Steering Group NZ. Previously she was a director of Contact Energy Limited, Pro-Chancellor of Victoria University, the Head of NZ for the ICC Cricket World Cup 2015, and the Chief Operating Officer for Rugby New Zealand 2011 Limited, the company established by the NZRU and the NZ Government to deliver the Rugby World Cup Tournament in 2011. She has also held a number of Government advisory roles, been Chairman of TVNZ Limited, a Director of NZX Limited, NZ Cricket, and Save the Children NZ, was the Chief Financial Officer at the New Zealand Rugby Union, and held a senior role with KPMG.

R.J.P. (Ross) Buckley

Auckland, New Zealand

External Company Directorships: Stride Property Limited, Stride Investment Management Limited, Stride Holdings Limited, Investore Property Limited, Service Foods Limited (Chair).

Ross Buckley was appointed as a Director of ASB on 1 October 2020.

Ross is a director of Stride Property Limited, Stride Investment Management Limited, Stride Holdings Limited, Investore Property Limited, Chair of the FMA's Auditor Oversight Committee and is a member of the Massey University Council. He is also a National Board Chair and a member of the Auckland Branch Committee of the Institute of Directors, as well as Chair of Service Foods Limited.

Ross was previously the Chair of Massey University College of Business Advisory Board. Previously, he was the Executive Chairman of KPMG in New Zealand from 2011 and a member of KPMG's Asia Pacific Board and KPMG's Global Council until October 2020. During his 38 year career with KPMG he has managed the firm's Audit, Risk and Tax practices in addition to the firms' People, Performance and Culture function. Ross joined KPMG in 1983 and became a Partner in 1994 and has worked in KPMG's Amsterdam, Toronto, International and Wellington offices before moving to Auckland in 2008. Ross retired from KPMG effective 31 October 2020.

Dr. R.M. (Rod) Carr

BCom (Hons) LLB (Hons) MBA MA PhD
Christchurch, New Zealand

External Company Directorships: Waingawa Forest Corporation Limited, JRC (NZ) Limited.

Dr Carr was appointed as a Director of ASB on 12 September 2018.

Dr Carr is Chairman of the Climate Change Commission. Previously he was Vice-Chancellor at the University of Canterbury from 2009 and retired from that position in January 2019. He was also Managing Director of Jade Software Corporation Limited and a director of Otakaro Limited, and had a distinguished career in the banking sector, which included roles as Acting Governor of the Reserve Bank and Chair of the Board of the Reserve Bank.

Dr Carr holds a PhD in Insurance and Risk Management and a Master of Arts in Applied Economics and Managerial Science from The Wharton School, University of Pennsylvania; an MBA in Money and Financial Markets from Columbia University, New York; and undergraduate honours degrees in Law and in Economics from the University of Otago.

D.A.K. (David) Cohen

Sydney, Australia

External Company Directorships: PT Bank Commonwealth, Superannuation and Investments HoldCo Pty Limited.

David Cohen was appointed as a Director of ASB on 11 February 2019.

David is the Commonwealth Bank’s Deputy Chief Executive Officer. He commenced in this role in November 2018. David is also the President Commissioner of PT Bank Commonwealth, CBA's retail and business banking operation based in Jakarta, Indonesia and is a Director of Superannuation and Investments HoldCo Pty Limited. David is responsible for the Group's Customer and Community Advocacy, Customer Remediation, Mergers & Acquisitions, SpeakUP and BEAR Supervisory teams as well as PT Bank Commonwealth. David also oversees the team supporting separation of divested businesses. In addition to his business responsibilities, David’s key priority is supporting the Chief Executive Officer on Group-wide initiatives to build tomorrow’s bank today for our customers. David chairs the Bank's Royal Commission Implementation Taskforce and is a member of the Executive Leadership Team.

David joined Commonwealth Bank in 2008 and has held a number of roles including Group General Counsel, Group Executive Group Corporate Affairs and Chief Risk Officer. Previously, David was General Counsel of AMP and a partner with Allens Arthur Robinson for 12 years.

V.H. (Victoria) Crone

MCA, Marketing and Management
Auckland, New Zealand

External Company Directorships: Contact Energy Limited, True North Seville Limited.

Victoria (Vic) was appointed as a Director of ASB on 12 April 2022.

Vic is a Director of Contact Energy and True North Seville Limited. She was a Chair of Statistics NZ Advisory Board and Variety, the Children's Charity. Vic has been an Independent Director on the Boards of a number of companies and organisations in the technology sector, including RedShield, Creative HQ and the Hi-Tech Trust and previously held executive roles at both Chorus and Telecom New Zealand, followed by a role as Managing Director for New Zealand and New Markets at accounting software firm Xero. She finished up as Chief Executive at Callaghan Innovation in July 2022.

Vic holds an MCA in Marketing and Management from Victoria University in Wellington.

C.A. (Colin) MacDonald QSO

BSc Computer Science, CPEng, MInstD
Wellington, New Zealand

Colin MacDonald QSO was appointed as a Director of ASB on 2 March 2022.

Colin chairs a number of committees including the Ministry of Health Risk and Assurance Committee, Taumata Arowai (Water Regulator) Finance Risk and Assurance Committee and the Crown Law Assurance and Risk Committee. Colin has more than 35 years' experience in a range of public and private sector roles including as Chief Executive Officer of the New Zealand Department of Internal Affairs and Government Chief Digital Officer and Chief Executive Officer of Land Information New Zealand. 

Colin was a Chair of Network for Learning and a Director of Education Payroll Limited, both Crown Companies. Colin has also previously held senior leadership positions in the banking sector and at KPMG. He brings significant technology experience and public and corporate sector governance skills to ASB's Board. 

Colin was awarded a Queen's Service Order (QSO) in 2019 for services to the State.

Nigel Williams

Sydney, Australia

External Company Directorships: Cancer Council NSW

Nigel Williams was appointed as a Director of ASB on 21 March 2024.

Nigel Williams has been Commonwealth Bank's Group Chief Risk Officer since November 2018, responsible for ensuring the effective governance and management of Compliance and all Risk types. 

Nigel has 40 years of banking experience across Australia, New Zealand and Asia. Prior to joining CBA, he was Chief Risk Officer of Australia and New Zealand Banking Group. Previous executive roles included Managing Director of Institutional Australia at ANZ and Managing Director for Institutional and Commercial Banking ANZ New Zealand. He has also held positions at National Bank of New Zealand and South Pacific Merchant Finance.

He is currently a Director of Cancer Council NSW and is a member of Australian Institute of Company Directors and a Fellow of INFINZ.

Nigel has a Bachelor of Commerce with majors in Marketing, Accounting and Finance from University of Otago. He also has completed leadership and strategy courses at University of Oxford, Michigan University, Duke University and Massachusetts Institute of Technology.

Juliet Tainui-Hernandez

LLB and BA (Maori) 
Auckland, New Zealand

External Company Directorships: Non-executive director on the board of Ngāi Tahu Holdings.

Juliet Tainui-Hernandez was appointed as a Director of ASB on 1 May 2024. 

Juliet was previously the Assistant Governor and General Manager of Transformation, Innovation, People and Culture at Te Pūtea Matua / The Reserve Bank of New Zealand

Juliet joined Te Pūtea Matua in 2020 to lead their Transformation and People functions. Juliet is of Ngāi Tahu and Whakatohea descent. She has worked with local Iwi and with a large New Zealand law firm before commencing her international career.

Juliet has since worked in Australia, Hong Kong, and England – in roles ranging from litigation and dispute resolution, risk management and regulatory compliance, strategy, development and delivery of business transformation projects, broad people management roles, and in more recent years many aspects associated with integration, expansion and the combinations of international legal practices.

Juliet is qualified as a Barrister and Solicitor of the New Zealand High Court, admitted as a Solicitor in the Supreme Court of New South Wales Australia, and as a solicitor of England and Wales.

V.A.J (Vittoria) Shortt

Auckland, New Zealand

External Company Directorships: Lawford Family Trustee Limited

Link to biography


Board Committees

The Board has established three permanent committees. The permanent committees assist the Board by focussing on their specific activities, fulfilling their roles and responsibilities, reporting to the Board on decisions and actions taken, and making any necessary recommendations. All permanent committees of the Board operate under a written charter which sets out the role and responsibilities of that committee. Other permanent committees and ad hoc committees may be established from time to time as required.

The current permanent committees are:

Board Audit Committee

The Board Audit Committee ensures the integrity of the ASB Group's financial controls, reporting systems and internal audit standards and it assists the Board in discharging its responsibilities on a range of matters including:

  • The external reporting of financial information for the ASB Group;
  • The internal control framework for the ASB Group;
  • Oversight of the Chief Internal Auditor, the internal audit function and the external auditors;
  • Accounting policy and practice; and
  • Without limiting the above, compliance with laws and regulatory standards relating to accounting, financial and climate reporting.

The current members of the Board Audit Committee are:

R.J.P. (Ross) Buckley (Chair)
R.M. (Rod) Carr
D.A. (David) Cohen
V.H. (Victoria) Crone
C.A. (Colin) MacDonald
T.M. (Therese) Walsh (DNZM)

Board Risk & Compliance Committee

The Board Risk & Compliance Committee has been established to assist the Board in discharging its responsibilities on a range of matters relating to:

  • The oversight and governance of risks impacting the ASB Group;
  • The design, implementation and operation of ASB's Risk Management Framework ;
  • Monitoring the risk appetite and assessing the risk profile of the ASB Group;
  • Monitoring the effectiveness of the compliance management framework impacting the material risk types; and
  • Risk culture and behaviours.

The current members of the Board Risk & Compliance Committee are:

R.M. (Rod) Carr (Chair)
R.J.P. (Ross) Buckley
D.A. (David) Cohen
V.H. (Victoria) Crone
C.A. (Colin) MacDonald
T.M. (Therese) Walsh (DNZM)

Appointments & Remuneration Committee

The Appointments & Remuneration Committee has been established to assist the Board in discharging its responsibilities on a range of matters relating to:

  • Talent management, development, and succession planning for ASB's Executive General Managers (EGMs) and other specified roles;
  • Approving the appointments of EGMs and Material Risk Takers (MRTs);
  • Remuneration arrangements and outcomes for EGMs, MRTs and other specified roles; and
  • People and remuneration related policies, frameworks and practices to ensure they comply with ASB's Risk Management Framework and legal and regulatory requirements.

The current members of the Appointments & Remuneration Committee are:

C.A. (Colin) MacDonald (Chair)
Dame T.M. (Therese) Walsh
R.J.P. (Ross) Buckley
D.A. (David) Cohen

Constitution and Codes


ASB's Constitution is available from the Companies Office here.

Code of Conduct

Our Code of Conduct articulates the standards of behaviour expected of our people when engaging with, and balancing the interests of, ASB's stakeholders. The Code connects our purpose and values with a 'Should We?' test, to help deliver the right outcomes. 

Directors' Code of Ethics

The Board has adopted a Directors' Code of Ethics.  The philosophy underlying the Board's approach to corporate governance in the Code supplements the ethical standards set out in the ASB Code of Conduct. 

INTERNAL AUDITOR M. (Melanie) Toft Chief Internal Auditor
AUDITOR PricewaterhouseCoopers
Chartered Accountants
PwC Tower
15 Customs Street West
Auckland 1010
New Zealand
(Ordinary Shares)
Commonwealth Bank of Australia
Commonwealth Bank Place South, Level 1
11 Harbour Street
Sydney, NSW 2000
ASB North Wharf
12 Jellicoe Street
Auckland 1010
New Zealand