Global Financial Expert Takes Up Auckland Chair

Global Financial Expert takes up The University of Auckland Business School BNZ Chair of Finance

Freshly returned from an advisory trip to the Ukraine, Professor David Mayes is settling in as The University of Auckland Business School’s BNZ Chair of Finance.

Professor Mayes is a former chief manager of the Economics Department at the Reserve Bank of New Zealand and was head of the New Zealand Institute of Economic Research in Wellington and has taken up this prestigious leadership position after more than a decade working offshore.

He has advised central banks and financial regulators in 15 countries round the world, as well as the Organisation for Economic Cooperation and Development, the Asian Development Bank Institute and the International Monetary Fund, and is a member of the Joint Shadow Financial Regulatory Committee for Australia and New Zealand.

David Mayes has spent recent years trying to improve financial regulation and in particular has worked to improve the handling of financial failures.

“Almost all financial woes of recent times have been caused by financial ignorance, some unintended, but ignorance none-the-less. My career has focused on addressing this issue,” he says.

While it is the intention of The University of Auckland Business School to attract the best talent to New Zealand, through its endowment of the chair in finance the BNZ has the clear objective of improving the financial literacy of all New Zealanders.

“The BNZ and I share a special objective and that is to improve the financial literacy of New Zealanders. This initiative is timely as no one wants to see the distress caused by people losing their life savings in the collapse of the finance company sector happen again.”

Stephen Mockett, Chief Operations Officer for the BNZ says “Bank of New Zealand has invested $1.35 million over five years to establish the Chair of Finance at the Business School. We welcome Professor Mayes to the role and value the unique international perspective that he will bring to the academic and our wider financial community.

“Raising levels of financial literacy across the spectrum is a priority for the BNZ. We are proud to support the nation’s knowledge growth from advanced analysis of the operations of financial institutions through to developing understanding at a grassroots level”, he says.

In addition to supporting the Chair, BNZ is working with the Retirement Commission to further raise levels of financial awareness in New Zealand.

The University of Auckland Business School Dean Professor Greg Whittred says having a BNZ Chair of Finance of the calibre of Professor Mayes will widely benefit the University, Business School and students.

“From an impressive international career in academia and public services, David’s expertise, experience, outstanding research qualifications and extensive global business contacts will be of massive benefit to our students,” Professor Whittred says.

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