International banker to lead NZ Racing Board

MEDIA RELEASE

May 9, 2012

International banker to lead NZ Racing Board

Experienced international banking and financial services executive Chris Bayliss has been appointed Chief Executive of the New Zealand Racing Board.

The 45-year-old has been installed following an extensive global recruitment process and in August will take the reins of the organisation that governs New Zealand's racing and wagering industry, comprising more than $1.6 billion in turnover annually and contributing to the livelihoods of more than 50,000 Kiwis nationwide.

A New Zealand resident, Mr Bayliss has spent his career to date in the banking and financial services sector, beginning as a 16-year-old bank teller before rising rapidly through the ranks to senior executive roles with banking organisations in Europe, Australia and New Zealand – most recently with Bank of New Zealand and National Australia Bank.

NZ Racing Board Chairman Michael Stiassny said Mr Bayliss was an exceptional appointment.

"Given the size and scope of this role, and the responsibilities that go with it, we purposely took our time with regards to the appointment process.

"The goal was to find the right person for the job and we're thrilled to be able to appoint someone of Chris' calibre."

Mr Bayliss has a strong retail background, having spent several years as the Bank of New Zealand's director of retail operations. In addition to holding senior executive roles in technology and corporate risk areas, Mr Bayliss has most recently led the international retail function of one of Australasia's largest financial institutions, National Australia Bank.

Mr Stiassny also praised the efforts of Bill Colgan, who led the NZ Racing Board as interim Chief Executive while the recruitment process was under way.

"Bill stepped up to take the helm during this time and has done an exceptional job. As a business we're fortunate to have someone of Bill's character, experience and expertise to lead the organisation through difficult circumstances exacerbated by a cool economic climate and the impact of the Canterbury earthquakes.

"Despite these challenges, in Bill's capable hands the NZ Racing Board not only delivered an excellent result of a $128 million distribution to the three racing Codes in 2010/11 but we also remain on track to achieve our best turnover result in 2011/12.

“We are thankful that Bill is able to stay on till Chris arrives on August 1 and assist in the handover.”

ENDS

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