David Stevens, the IIS inaugural independent chairperson, retired as a director at the end of 2018. IIS thanks David for the incredible contribution he has made to the business. Under David’s stewardship, the business has grown to managing over $3.5 billion of assets on behalf of seven fund-hosting clients. In addition, IIS successfully launched the direct-to-consumer fund platform InvestNow, which has over 8,000 customers and approximately $250 million of assets.
Long-standing board member, Ian Russon, has replaced Stevens as chair with legal and regulatory expert, Jeremy Valentine, also joining the board. Lee Mauger, who has deep expertise in the IT industry, was appointed as director in 2018, further bolstering the IIS board.
Meanwhile, IIS has expanded its management team in line with business growth, most recently hiring Jenny Fenwick in a client relationship role. Jenny has responsibility for managing our key client relationships with fund-hosting clients as well as InvestNow’s investment managers. Jenny was previously with Thomson Reuters.
And late in 2018 Clayton Adams joined IIS as head of operations, bringing his vast investment industry experience accrued both in New Zealand and offshore. Clayton was previously with BNP Paribas in New Zealand, who he joined after returning from an extended period working for different investment managers in London.