Guardians Board members are chosen for their experience, training and expertise in the management of financial investments, as well as their mix of complementary skills.

Board members are appointed by the Governor-General on the recommendation of the Minister of Finance. The Minister’s recommendation follows nominations from a committee, independent of the Guardians, which is established by the Minister. On receiving those nominations, the Minister consults with representatives of other political parties in Parliament before recommending the Governor-General appoint a person to the Board.

The Board must comprise at least five, but no more than seven, members. Each Board member is appointed for a term of up to five years and is eligible to be reappointed.

The Guardians’ governing legislation and the Board Charter (including Board Code of Conduct) define Board responsibilities, responsibilities of individual Board members, as well as matters reserved for the Board and matters delegated to management.

While the day-to-day responsibility for the operation of the business is delegated to the Chief Executive, there are a number of matters which, either because it is required by law or because the Board has decided it is in the interests of the Guardians to do so, are decided only by the Board as a whole.

The Board regularly reviews its delegations and governance priorities. The Board also hears directly from a range of external experts on investment markets, and regularly visits international peer funds for the purpose of assessing developments in best practice.

The Board has two standing committees: Audit and Employee Policy and Remuneration.  From time to time other committees may be formed to manage conflicts for other purposes.


Board members are paid $49,000 per year for their services. The chairperson is paid $98,000 per year and the deputy chairperson $61,250. The total remuneration is summarised in the Annual Report.

Photo of Catherine Savage

Catherine Savage

CA, BCom (Victoria University)

Catherine Savage has been a Guardians Board member since 2009. She was appointed Deputy Chair in 2012 and Chair in 2016.  Catherine is Managing Director of Savage Group Limited and an independent Director of Todd Family Office and Pathfinder Asset Management. She has also held the role of independent Director of Kiwibank and Chair of the Board of Trustees for National Provident Fund. From 1991 – 1993, Catherine held the role of Treasurer of the National Gas Corporation before moving to AMP Capital Investors (NZ) Ltd where she held a number of senior management roles including Managing Director (2000-2007).

Committee membership:
Employee Policy and Remuneration (Chair) and Audit
Lindsay Wright

Lindsay Wright

BCom (Auckland)
Deputy Chair

Lindsay Wright was appointed to the Board of the Guardians of the New Zealand Superannuation Fund on 1 December 2012 and appointed Deputy Chair in December 2015. Her term of office expires 31 October 2018.
Lindsay is currently Head of Distribution and Co-Head of APAC at BNY Mellon Investment Management. Prior to this, she was Regional Head Institutional, Alternatives and Investment Solutions Business, Asia Pacific with Invesco Hong Kong Limited, CEO of Harvest Alternatives Investment Group and Co-CEO Harvest Capital Management Limited. She has also held roles as Managing Director and Global Head of Strategy and Business Development for Deutsche Asset Management/DWS based in New York as a part of a 24 year career with Deutsche Asset Management and Deutsche Bank. 

Committee membership:
Audit (Deputy Chair)
Photo of Craig Ansley

Craig Ansley

Ph.D. Business Administration (University of Michigan), BSc (Hons) Mathematics (University of Canterbury)

Craig Ansley was appointed to the Board of the Guardians in September 2011. His term of office expires on 30 September 2018. Craig spent many years in senior roles with Russell Investment Group, prior to his retirement in October 2010. A founder of Russell's New Zealand office, Craig has been the Director of its Australasian consulting practice, the Director of Capital Markets Research in Australia and New Zealand Chair.

He has also been an Adjunct Professor in Finance at the University of Auckland; a director of the Mortgage Corporation of New Zealand Limited and Mortgage Services Limited; a director of Group Rentals New Zealand Limited and of the National Provident Fund. Craig was a member of the Savings Working Group in 2010-11. He is on the Board of the Government Superannuation Fund, and is a Fellow of the New Zealand Society of Actuaries.

Committee membership:
Photo of Pip Dunphy

Pip Dunphy

CFA, BHortSc

Pip Dunphy was appointed to the Board of the Guardians in May 2012. Her term of office expires on 30 April 2019. A former member of the selection committee for the Guardians, Pip's work experience and knowledge is in capital markets, banking, finance and investment management. Her previous governance experience includes being a board member of Auckland Transport, NZ Post, Earthquake Commission, ACC, Mint Asset Management, Solid Energy and Crown Health Financing. Pip currently sits on the boards of Abano Healthcare, Transpower and the Fonterra Shareholders Fund.

Committee membership:
Audit (Chair)
Photo of Stephen Moir

Stephen Moir

Stephen Moir was appointed to the Board of the Guardians of New Zealand Superannuation in November 2009. His term of office expires on 30 September 2019. Stephen has more than 25 years of experience in financial services, including being the General Manager of the Westpac Institutional Bank from 1998-2001, preceded by senior positions with Credit Suisse in Singapore, Citibank in Singapore, Bangkok and Sydney.

Stephen is also on the Board of the Ports of Napier.

Committee membership:
Employee Policy and Remuneration
John Williamson

John Williamson


John Williamson was appointed to the Board of the Guardians 30 May 2016. His term of office expires 30 September 2020. John is the Group Chief Executive of Academic Colleges Group. Prior to this, John was the Group Chief Executive and Managing Director of Hellaby Holdings Limited and Director of Hellaby Holdings’ subsidiaries. He has previously held positions on various boards including Hellaby Holdings, Hockey New Zealand and with a number of primary sector, consumer and industrial businesses in New Zealand and Australia.

Committee membership:
Doug Pearce

Doug Pearce


Doug Pearce was appointed to the Board of the Guardians 30 May 2016. His term of office expires on 30 September 2020. Doug was the founding Chief Executive Officer and Chief Investment Officer of the British Columbia Investment Management Corporation (bcIMC), one of Canada’s largest institutional investors, with over $100B in assets under management. He held these positions from 1988 till he retired in 2014 and has over 35 years of experience in the capital markets.

Doug has also served as director and Chair of the Canadian Coalition for Good Governance (CCGG), the Pacific Pension Institute (PPI), and the Pension Investment Association of Canada (PIAC). He has a keen interest in business strategy and good governance and has been a member of the advisory board at the Forum for Women Entrepreneurs and the Faculty Advisory Board at UBC Sauder School of Business. Doug also sits on the boards of CPI Card Group and the Alzheimer Society of British Columbia.

Committee membership:
Employee Policy and Remuneration

To find out more:

Read the profiles of the Guardians' Leadership Team here.