Rangatira Appoints Phil Veal as Chief Executive
5 August 2014
Rangatira Appoints Ex-Pat Phil Veal as Chief Executive
Wellington investment company Rangatira announced at its annual meeting yesterday that the board has appointed Phil Veal as its chief executive. Veal will move with his family from his current base in New York City to Wellington to take up the role.
Since 2006, he has been a Partner of middle-market investment and advisory firm Growfire in New York. His role at Growfire included being strategic advisor to Nasdaq-listed technology company Cognizant, Chair of DialedIn, a Californian provider of cloud-based mobile sales software, and an investor and advisor to a range of early stage businesses across sectors as diverse as medical devices, consumer goods and wine. Previous roles have included Chief Executive Americas and Partner of PIPC in New York, a global management consulting company (now Cognizant Program Management), and Principal Consultant at PA Consulting in New York. He started his career with global engineering consultancy Mott MacDonald, working in London and Hong Kong, and he holds a Bachelor of Engineering with honours from the University of Canterbury.
An active member of New Zealand’s expat community for many years, in August 2012 Phil became the Global Chair of Kea, New Zealand’s global network. He succeeded Kea founder Sir Stephen Tindall and has been an outspoken advocate for the ‘borderless nation’ of New Zealand and New Zealanders.
Chairman David Pilkington said, “Phil’s appointment follows a comprehensive search for someone with the skills necessary to take Rangatira into the future. Having established a successful international career in business, Phil wanted to return home and use his experience to help grow New Zealand companies. Rangatira provides opportunity for him to realise that goal.”
Phil Veal said, “I’m excited to join Rangatira, and I look forward to continuing and enhancing their strong track record of investing in growing businesses in the productive heart of the New Zealand economy.”
He succeeds Ian Frame, Rangatira’s Chief Executive for the past 11 years, who retired on 30 June this year.
David Pilkington said, “The directors welcome Phil aboard, we look forward to working with him and to the contribution he will make to the company’s next chapter. We are also particularly pleased with the fact that he and his family plan to make Wellington their home for the foreseeable future.
“Rangatira has made a solid start to this financial year, which is pleasing given the seasonal nature of the performance of many of our unlisted investments. Looking ahead, the company has a strong balance sheet and, with some $50 million of funds available for investment, is well positioned to take advantage of market opportunities as they arise.”