TSB welcomes new director

Former Westpac executive to start in February

TSB welcomes new director

TSB has announced that it has appointed Kate Armstrong as a director on its Board.

A qualified lawyer, she has almost 30 years’ experience in financial services and five years’ experience in governance, the bank said.

Armstrong joins TSB from Westpac NZ, where she led the insurance and investment business, and was the divisional chief operations officer, responsible for the day-to-day operations of the Consumer Banking and Wealth division.  In 2019, she lead the bank’s Financial Services Conduct Review Programme.

She has worked within the in-house legal teams of banks in New  Zealand and overseas, including Mizuho Corporate Bank, Barclays Capital and ANZ Bank New Zealand.

Announcing the new appointment, TSB Board Chair Mark Darrow acknowledged Ms. Armstrong’s experience, saying that he was “delighted” to have her join the Board.

“Kate’s strong banking, legal and governance expertise means she’s well placed to join the Board as it delivers TSB’s strategy to continue its transformation into a more modern business in a complex regulatory environment,” Darrow said.

Armstrong brings strong legal and risk management skills to the position and has a deep understanding of compliance and risk frameworks, TSB said.

An experience audit and risk subcommittee Chair, she currently sits on the Boards of Vero and Asteron Insurance, and the NZ Housing Foundation.

She will start with TSB in February, replacing Kevin McDonald, who will retire from the TSB board and as Chair of the Risk Committee at the end of February.

Armstrong’s appointment follows that of CEO Kerry Boielle, who joined TSB earlier in January, succeeding Donna Cooper, who stepped down from the CEO role in July 2023.

Headquartered in New Plymouth, TSB is owned by the Toi Foundation.

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