McKinnon has been acting CEO from earlier this year.
After naming Rhiannon McKinnon acting CEO earlier this year, the New Zealand-owned and operated wealth and investment organisation, Kiwi Wealth, has cemented her appointment as chief executive, effective December 1. Kiwi Wealth, the largest New Zealand-owned KiwiSaver provider, has more than 220,000 KiwiSaver members and more than $9 billion funds under management.
McKinnon said: “I am pleased to be leading Kiwi Wealth into a future where our purpose is very clear – we believe every Kiwi deserves the opportunity to have a brighter financial future. Wealth has always been for the top 5% but we think it should be for many more people than that.”
McKinnon’s appointment came as Kiwi Wealth’s new Default fund went live, also on December 1, after the company was again selected as a default KiwiSaver provider. The fund is mostly passively managed with a small portion actively managed. (New members who have been allocated to Kiwi Wealth by Inland Revenue will be placed in the new Default fund from December.)
Kiwi Wealth chair Gregg Behrens said: “I am pleased Rhiannon has been appointed to the permanent role of chief executive. Under her leadership we are confident in the future of Kiwi Wealth and its ability to deliver great products and services for the benefit of our customers.”
McKinnon previously served for three years as general manager of strategy and partnerships at Kiwi Wealth; previously, after arriving in New Zealand from the UK in 2007, she worked as an executive adviser at Kiwibank and in corporate finance and investor relations at NZ Post. Her skill set also encompasses M&A, valuation, financial analysis, and equity research.
UK-born McKinnon began her career in investment banking with Cazenove and Morgan Stanley in the City of London. She is a chartered financial analyst and served three years on the board of the CFA Society of New Zealandas well as being a board member of various not-for-profit organisations including Dress for Success Wellington, and government entities including the New Zealand Film Commission.
McKinnon has a Master of Arts in History from the University of Cambridge. She lives in Wellington with her husband and their three young children.
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