FINSIA Elections - your vote counts or subtracts?

"Kaplan to buy Finsia for $36 million - 26 April 2007"

I can remember the headline above, as if it were just yesterday - a sign of great things to come, but it turned out, not so well for the members.

Fast forward 14 years and FINSIA has reported at least 5 years of loses in a row, and net shareholder funds of only $12.4m. Even if the entity had no net equity in 2006, and it did, that's a staggering loss of nearly a $1m a year.

Whilst no-one is saying that this current board, or the management are to blame. I do want to send a message of change. If we keep doing what we've always done, we will get what we've always got.

FINSIA has an important message of professionalism and ethics, but it doesn't have a future if it can't turn a surplus.

I haven't been endorsed by the Board, for this election, but I have been approved as an acceptable candidate by the Nomination's Committee, twice.

I support diversity, and when the CE Chris Whitehead explained to me that another NZ candidate had nominated, and that the Boards 40% diversity policy became an issue they considered when supporting that candidate, and that NZ's interests might be over represented with two directors, I thought that these were reasonable considerations.

They are important issues, and I acknowledge that. But diversity is about more than gender, and I can represent all members interests, not just Kiwi's. Kia rite, mahi pai!

The entity I am a Joint Managing director of manages a market in NZ with asset values of circa $3.5bn; I chair three of the 2,000 organisations in NZ that were deemed too big to receive the NZ Governments first cut at the Business Finance Guarantee Scheme. One of those organisations was formed in 2015, I was its founder Chair; one had 55 staff and was breakeven in 2011; and one had never paid a dividend until I became its Chair.

I have no current aspirations to Chair FINSIA, but I've been a Fellow of it and its antecedent organisations for two decades; have chaired its NZ Council, mentored its NZ members, supported the role out of Chartered Banker in Australia and NZ, and remonstrated with the then Board when they closed the Australian Regional Offices and withdrew from NZ all its salaried staff.

I have two post graduate qualifications; I am completely immersed in helping Helmut Modlik achieve for Ngati Toa Rangatira gains in the wealth, prosperity, success, and mana of its peoples. I am an Australian, living in NZ, and spending more time in Canberra as I try to support my ageing family there. In short, I am busy.

But if I can, I'd like to ask different questions of the FINSIA executive and board, present different views, and try to grow and make a financial success of an organisation that I have served over half my adult life.

If you think I can help; are a member of FINSIA or know someone who is, then please either vote for me, or ask them to vote for me.

Epistemology is getting better answers, by asking better questions. Your support will help me do that for FINSIA.

Leon Grandy

6 May 2021