Investment Committee

Mike Frith, Chair

BCA (Hons) Economics and Finance
Manager, Economics

Mike Joined the Guardians in 2015 from the Reserve Bank of New Zealand, where he held a number of roles during his lenghty tenure, including managing the Bank’s Auckland office and management roles within the Bank’s Prudential Supervision and Economic departments.

At the Guardians, Mike's primary role is to provide the macroeconomic advice that underpins investment analysis and broader investment decisions.

Photo of Adrian Orr

Adrian Orr

BSocSci, MA(Dist)
Chief Executive Officer

Adrian joined the Guardians in February 2007 from the Reserve Bank of New Zealand where he was Deputy Governor. Adrian has also held the positions of Chief Economist at Westpac Banking Corporation, Chief Manager of the Economics Department of the Reserve Bank of New Zealand and Chief Economist at The National Bank of New Zealand. He has also worked at the NZ Treasury and the OECD based in Paris.

Adrian is Chair of the International Forum of Sovereign Wealth Funds and Chair of the Pacific Pension Institute.

See also: Adrian Orr's Extended Biography

Matt Whineray

BCom, LLB (Hons)

Matt joined the Guardians in May 2008 as General Manager, Private Markets. He became Chief Investment Officer in 2014. Prior to joining the Guardians, Matt was Head of Financial Sponsor Coverage for non-Japan Asia at Credit Suisse in Hong Kong, a Managing Director at First NZ Capital in New Zealand and a Vice President at Credit Suisse First Boston in New York. Matt began his career as a Barrister and Solicitor with Russell McVeagh in Auckland.

Mark Fennell

M.Soc.Sci (Hons), DipACC, Associate Chartered Accountant (ACA) and Certified Treasury Professional (CTP)

Mark joined the Guardians in 2007 from The Warehouse Group where he was the Company Secretary and Treasurer. Mark also has significant public sector experience, working in a senior finance position for the Ministry of External Relations and Trade, and for State Owned Enterprises (Forestry Corporation and NZ Railways Corporation).

Del Hart

BMS (Hons) Finance and Marketing

Prior to joining the Guardians in 2010 Del was Client Service Manager for Russell Investments, where she was responsible for all aspects of the institutional client relationships in New Zealand. Del also spent 5 years in London working as a Risk Manager for Pictet Asset Management, and before that held a variety of other roles in the financial services industry. 

Nigel Gormly

BCom/BSc, Grad. Dip (Finance) (Auckland), CFA

Nigel joined the Guardians in 2013 after ten years at Fonterra where he held various senior strategic development and commercial leadership roles, most recently as General Manager Commercial Ventures.  Prior to this Nigel was Assistant Director for Andersen Corporate Finance, based in London, with assignments throughout Asia, Latin America and Europe. 

David Iverson

BCom/LLB, MCom (Hons) (Auckland)
Head of Asset Allocation

David joined the Fund in 2009 from Goldman Sachs JB Were, where he was Director of Institutional Investment Services and Quantitative Research. He has also held investment roles with Russell Investment Group, ING Investment Management (Asia-Pacific) and ABN Amro NZ. David is a member of the EDHEC-Risk Institute International Advisory Board and the CFA Society, and is the author of Strategic Risk Management – A practical guide to portfolio risk management.

Anne-Maree O'Connor

MSc, BSc
Head of Responsible Investment

Anne-Maree has over 20 years of experience and has held senior roles in the RI and corporate responsibility field including Managing Director of CoreRatings, Associate Director RI at Morley Fund Management and Head of RI Research at Henderson Global Investors.

Her main role at the Fund is the development and oversight of the Guardians’ responsible investment (RI) framework which includes integrating environmental, social and governance considerations across the Fund’s investments. Anne-Maree is a board member of the RI Association Australasia. 

Will Goodwin

Head of NZ Direct Investments

Will joined the Guardians in 2016 having spent 2 years as CFO at Todd Minerals, based in Sydney. Prior to this he held various senior executive roles across the Todd Corporation in Corporate Development and Private Equity.

Brad Dunstan

BCom, PGDip
Head of Portfolio Completion

Brad joined the Fund in September 2013 having worked for Cannacord Genuity in London as Co-Head of European Equity Derivatives. Prior to that, Brad spent 11 years working in London for various investment banks including Bear Stearns and JP Morgan.


George Crosby

Head of Portfolio Investments

George joined the Guardians in 2008.  Prior to joining the Fund he was trading various derivatives books at Westpac, BNP Paribas and Toronto Dominion Bank in Wellington and London.