ASB Group companies - Leadership team

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 Operating Officer

Amie joined ASB in December 2017 as General Manager, Risk Transformation and was appointed Chief Operating Officer in August 2024. Prior to this role, Amie was the Chief Risk Officer.

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.

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.

Andrew Faskheev

Chief Risk Officer

Andrew joined ASB in September 2024. Prior to this, he was the Chief Risk Officer at PT Bank Commonwealth (a subsidiary of Commonwealth Bank of Australia), based in Jakarta, Indonesia, with end-to-end responsibility for all risk management activities, providing second line oversight across all risk disciplines including credit, fraud, market and liquidity, operational and reputational risks.

Andrew has over 20 years' experience within retail, commercial and institutional banking across Australia and Asia Pacific with Commonwealth Bank of Australia, ANZ and Westpac. His expertise and advisory capabilities span financial and non-financial risk domains, and he has a particular interest in decision science, data and analytics.

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

Andrew holds a Bachelor of Commerce from the University of South Australia, including an accounting major and minor in management accounting. He has also completed the National University of Singapore's Strategic Management Programme.

David Bullock

EGM Technology & Transformation

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.

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 ASB's director on the board of Payments NZ.

Jonathan is a certified Chartered Accountant and holds a Master of Commerce in Economics from the University of Auckland.

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

BCA FCA, CMInstD
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. Previously she was a director of Contact Energy Limited, a member of the board of Antarctica NZ, Chair of Chapter Zero Steering Group NZ, 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.

R.J.P. (Ross) Buckley

BBS, FCA, FCPA, CMInstD
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.

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 and Chair of the Chapter Zero Steering Committee NZ.

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 was previously Vice-Chancellor at the University of Canterbury from 2009 and retired from that position in January 2019. He was also Chairman of the Climate Change Commission, 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.

V.H. (Victoria) Crone

MCA, Marketing and Management
Auckland, New Zealand

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

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

Vic is Chair of Pyper Vision Limited and a Director of True North Seville Limited, Victory & Grace Limited and Chitogel Limited. She was a Chair of Statistics NZ Advisory Board and Variety, the Children's Charity and a Director of Contact Energy. 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 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.

N.H.M. (Nigel) Williams

BCom
Sydney, Australia

External Company Directorships: Cancer Council NSW

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

Nigel Williams was Commonwealth Bank's Group Chief Risk Officer from November 2018 to February 2025, 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.

J.K. (Juliet) Tainui-Hernandez

LLB and BA (History, Māori Studies),
Barrister & Solicitor (NZ), Solicitor (NSW, Australia), Solicitor (England and Wales).

Auckland, New Zealand

External Company Directorships: Deputy Chair of Whai Rawa Fund Ltd, Te Kahui o Ōnuku Charitable Company Limited.

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

Juliet was previously Assistant Governor at Te Pūtea Matua / The Reserve Bank of New Zealand (RBNZ), where she was also responsible for its Transformation, Innovation, People and Culture functions and the RBNZ Auckland Office.

Juliet has more than 25 years' experience in NZ and internationally as a lawyer, general manager, risk and compliance officer, transformation leader, executive, and board director across professional services, central banking, financial services and iwi economic development. Juliet worked with Iwi and a large New Zealand law firm before commencing her international career. Juliet returned home in 2020 to take up a directorship on the board of Ngai Tahu Holdings alongside her executive role at the RBNZ. She is now a full-time professional director and advisor. She is of Ngāi Tahu and Whakatohea descent.

V.A.J (Vittoria) Shortt

BMS, FCA
Auckland, New Zealand

External Company Directorships: Lawford Family Trustee Limited

Link to biography

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
V.H. (Victoria) Crone
C.A. (Colin) MacDonald
J.K. (Juliet) Tainui-Hernandez
T.M. (Therese) Walsh (DNZM)
N.H.M. (Nigel) Williams

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
V.H. (Victoria) Crone
C.A. (Colin) MacDonald
J.K. (Juliet) Tainui-Hernandez
T.M. (Therese) Walsh (DNZM)
N.H.M. (Nigel) Williams

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
J.K. (Juliet) Tainui-Hernandez

Constitution

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	D. (David) Sutton	Chief Internal Auditor
AUDITOR	PricewaterhouseCoopers Chartered Accountants PwC Tower 15 Customs Street West Auckland 1010 New Zealand pwc.co.nz
ULTIMATE SHAREHOLDER (Ordinary Shares)	Commonwealth Bank of Australia Commonwealth Bank Place South, Level 1 11 Harbour Street Sydney, NSW 2000 Australia commbank.com.au
REGISTERED OFFICE	Level 2 ASB North Wharf 12 Jellicoe Street Auckland 1010 New Zealand asb.co.nz

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