“Quayside has a long and rich history – 30 years and counting and as such, we are positioned to support growth in the Bay of Plenty through investment, as well as benefit local communities through its relationship and dividends to its regional shareholder.”
– LYNDON SETTLE, QUAYSIDE CHIEF EXECUTIVE
WHAT IS
QUAYSIDE?
Quayside is the investment arm of Bay of Plenty Regional Council. We are the majority shareholder in the Port of Tauranga and also an issuer of debt securities on the New Zealand Exchange.
Our initial purpose back in 1991 was to acquire and manage the shareholding in the Port of Tauranga, however 31 years later with a range of asset classes in our portfolio including interests in property, shares and private equities, we continue to seek new opportunities for investment to diversify our asset base and provide sustainable long-term intergenerational returns.
HOW DO
WE INVEST?
Our objective is to manage our investment assets for a commercial return, providing sustainable growth and income to the wider community. We take a responsible, commercially focused and collaborative approach to investment, with our structure supporting the agility required to take advantage of new opportunities. Since 2002, Quayside has identified and invested in a number of large and smaller regional strategic projects to support economic and social development aspirations for the benefit of the Bay of Plenty community.
Our strategy enables a portion of the profits made each year to be invested in contributing to the region’s economic, environmental and social growth. We believe that not only can our investment model be used for the betterment of our region, but that we can be the Rangatiratanga leading the way for other investment entities who want to make a lasting impact. For case studies on some of the investments that Quayside has been involved in, visit the ‘how we invest’ section.
HOW DO WE MAKE
A DIFFERENCE?
In addition to developing a diversified asset base, we have provided distributions and capital worth over $640 million for the benefit of Bay of Plenty Regional Council and regional stakeholders since our inception in 1991. Real value is delivered to our community through a rate reduction as a result of our distribution payment to the Bay of Plenty Regional Council – to the tune of an average of $348 per property in 2021/2022.
In 2008, $200 million was raised through issuing Perpetual Preference Shares to retail investors. The Bay of Plenty Regional Council leveraged its position in Quayside, with Quayside continuing to support shareholders through dividend payments. The share issue resulted in a significant contribution by the Bay of Plenty Regional Council towards four key infrastructure projects across the region valued at $42.5 million, such as the University of Waikato campus in Tauranga.
We will always be commercially focused and community-minded.
WHO ARE WE?
BOARD
Mark Wynne, was appointed to the Board in October 2023 and as Chair in February 2024. Mark comes from a nine-year tenure as CEO of Ballance Agri-Nutrients New Zealand. Prior to this Mark held a series of Director roles across the health and tech industries, namely Manuka Health and Ice Angels Investments. Mark has also previously held senior executive positions at Fonterra, Kimberly-Clark and the New Zealand Dairy Board.
Stuart was appointed to the Board in November 2018 and is a member of the Audit and Risk Committee. He is an elected member of Bay of Plenty Regional Council and a member of their Risk and Assurance Committee, Operations and Monitoring Committee, SmartGrowth Leadership Group and Deputy Chair of the Policy and Strategy Committee. Stuart has held a number of governance roles both in the private and public sector and was Mayor of Tauranga from 2004 until 2016. He is President of Local Government New Zealand and is a trustee of Summerhill Charitable Trust. Stuart was made an Officer of the New Zealand Order of Merit in 2017.
Te Taru was appointed to the Board in March 2021. He is an elected member of Bay of Plenty Regional Council and a member of their Risk and Assurance Committee and Komiti Maori. Te Taru has held a number of governance roles in both the private and public sector and has been a Trustee and Chairman of numerous Land Trusts and Incorporations within the Te Arawa Confederation of tribes. He was a past Board member of the National Federation of Māori Authorities, is currently the Deputy Chairman of the Te Arawa Federation of Māori Authorities, the Chairman of Te Tatau o Te Arawa partnership with Rotorua Lakes Council and is a Board member of the Māori Trade Taumata. He has a wide range of experience from scientific and applied research to indigenous socio-economic development nationally and internationally including cultural leadership of the National Museum of New Zealand, Te Papa Tongarewa, and Chief Executive of the New Zealand Māori Arts and Crafts.
Keiran was appointed to the Board in 2019 and is Chair of the Audit and Risk Committee. She is a full-time professional director with a background in accountancy, business rescue and insolvency across both the public and private sectors. Keiran is currently on the Board of the New Zealand Lotteries Commission and University of Canterbury, as well as a range of SMEs in the health sector. She also provides independent audit and risk governance expertise to various councils. Keiran is a chartered accountant and a chartered member of the Institute of Directors.
Fiona was appointed to the Board in June 2018. Fiona was the General Manager of Strategy and Science at the Bay of Plenty Regional Council for over six years before being appointed as the Chief Executive in June 2018. Fiona is a director of BOPLASS and Executive Board Member of Priority One. Fiona is also the Chair of Otumoetai Intermediate School board and a trustee at Tauranga Girl’s College.
Fraser Whineray, was appointed to the Board in October 2023, and was most recently the Chief Operating Officer at Fonterra. Fraser has a strong venture capital and investment background, and previously held several senior executive roles, including CEO of Mercury where he received the Deloitte New Zealand Chief Executive of the Year in 2019. Fraser has undertaken several governance roles in the energy and consulting sectors, including Opus International Consultants, Carter Holt Harvey, NZ Dairy Board and is currently an Independent Director for AgriZero, Centre for Climate Action.
David Fear was appointed to the Board in October 2023, bringing extensive experience across Institutional, Private Wealth and Investment Banking businesses both in New Zealand, and internationally. Most recently he’s held senior roles with Jarden Securities across Markets and Wealth Management and was responsible for key relationships with several of NZ’s largest listed companies at executive and Board levels. David’s 40-year career in financial markets, holding senior global roles for Citigroup and ANZ Securities provides solid investment footings for this governance role with Quayside.
“Our high-performing team have a keen focus that is broader than just commercial outcomes. We live in the region, providing long-term prosperity for our own communities. Our team has strong intrinsic values aligned to our purpose.”
– LYNDON SETTLE, QUAYSIDE CHIEF EXECUTIVE
Lyndon started as Chief Executive for Quayside in October 2022, bringing with him a wealth of knowledge and experience from commercial settings and the banking world. Lyndon has a strong focus on stakeholder engagement and strategy, previously holding the role of General Manager – Finance and Investments at Tainui Group Holdings, as well as senior executives roles at BNZ and Rabobank.
Lyndon leads our Quayside team with his open, transparent leadership style and a passion to make a long-lasting difference to the communities around him.
Mel joined the Quayside team in March 2021 as Corporate Services Manager in a part-time capacity, while continuing with her own HR consultancy business. Mel recently relocated back from Australia, bringing a wide range of knowledge and specialist skills at an executive-level across multiple industries. Among some of Mel’s achievements was a Project Lead for a new brand across Australasia, managing an entire safety culture rebuild at Government-level, and input into Federal IR matters for the transport industry.
Davide joined Quayside in April 2021 as a Finance Manager and is responsible for the financial management of the group ensuring strong financial outcomes, sound compliance, risk management and providing specialist advice on investment opportunities. Prior to joining Quayside, Davide was a Fund Controller in Hines focusing his efforts on the Hines European Value Fund Series. He started his career in audit working for PwC Italy and KPMG Luxembourg. Davide has a Master in markets and Corporate Strategy from “Università Cattolica del Sacro Cuore” (Milan) and is a member of the ACCA.
Sam started working at Quayside in early 2018 when he moved to Tauranga from Perth, Australia. He is responsible for supporting Quayside’s investment decision making, including investment performance, project management, deal structure, providing strategic and operational advice, and supporting the governance function of investee businesses. Sam has previously held roles in the following areas; an in-house lawyer, foreign exchange and capital markets advisory, business development and regional development. He has studied both law and commerce, holding a Juris Doctor and a Bachelor of Commerce specialising in international business, commercial contracts, construction and dispute resolution. Sam is an admitted barrister and solicitor of the NSW supreme court.
Michael joins Quayside in August 2023, at an exciting time as the Rangiuru Business Park development gains momentum. A valuer by trade, Michael has also worked with the Todd Property Group, QIC and Stride Property Group, either in development or acquiring major property investments, such as the Remarkables Park Town Centre in Queenstown and the Northwest Shopping Centre in Auckland. Most recently Michael was a Senior Development Manager at urban regeneration CCO Eke Panuku Development Auckland, where he was responsible for the management of the joint venture between Auckland Council and NZ Super Fund, as well as counting the developments in the Waterfront/Wynyard Quarter and Northcote amongst his achievements.
Michael is responsible for current and future property developments alongside asset management for QPL.
Glenda joined Quayside in June 2021 after a five year stint at Bay Venues as Executive Assistant to the CEO and Board of Directors. Glenda also worked as Coordinator at SmartGrowth the collaborative initiative focusing of the future 50 years for the region, and the Rena Recovery programme through the Bay of Plenty Regional Council. Glenda is responsible for not only the smooth running of the office and our Chief Executive but also working alongside our project managers to deliver some of our major strategic projects.
An ACA qualified accountant, Maia joined Quayside in May 2023. He studied Commerce at Otago University, working as a chartered accountant for Deloittes and KPMG in his early career before moving to the banking sector. A few years in BNZ Finance before heading to the UK where he spent 12 years at UBS in London in the financial markets space as an interest rate derivatives trader. Later returning to Aotearoa with his whānau working for a global online derivatives news service from home and operating an Asia Pacific unit. Maia is a Ngai Te Rangi descendant and serves his community through a few volunteer governance and sporting roles.
Grace joined Quayside in July 2023, after working alongside Quayside for 5+ years as a marketing agency partner, delivering the Quayside, Rangiuru Business Park and AquaCuro websites, annual reports, brand strategy and various communications assets over this time. Most recently Grace worked for Aurecon within the stakeholder engagement and change advisory team, supporting local and national infrastructure projects.
A descendant of Ngāti Raukawa and Te Aitanga-a-Māhaki, Grace advocates for inclusive iwi partnerships and the integration of Ao Māori perspectives within our corporate practices.
Mark started working at Quayside in late 2020 in the capacity of Project Manager – Property. He brings a wealth of experience to the team having worked in project management and engineering roles both abroad and in New Zealand. In these roles he has managed large teams to deliver successful projects and outcomes. Mark’s expertise lies in delivering complex civil and development projects from conception to completion. Mark holds a Bachelor of Civil Engineering with a Masters in Project Management.
John joined Quayside in June 2023, bringing a Degree in Civil Engineering with extensive large-scale civil project management experience. This globetrotter has worked in the UK on the East London Line and London Olympics, and in Papua New Guinea, Vanuatu, and Tonga delivering wharves, roads, bridges, and gas pipeline projects.
Johns’ role at Quayside will see him deliver on defined civil and infrastructure project milestones, oversee contractor management, asset management, stakeholder engagement and provide technical property advice in relation to Quayside investments.
Sam started with Quayside in February 2024 as Investment Manager. Sam is responsible for supporting investment decision-making, including investment performance, project management, deal structure, providing strategic and operational advice, and supporting the governance function of investee businesses. Sam has significant corporate finance, M&A and asset management experience, starting his career in the KPMG Corporate Finance team, before moving onto an international asset management firm and more recently in a corporate finance role at Comvita. Sam holds a Bachelor of Commerce from the University of Otago and is a Chartered Accountant (CAANZ).
Having worked for a number of Chartered Accountancy firms in the region and beyond, Nicole was welcomed into the Quayside team in September 2022. As a member of the NZ Chartered Accountants since 2002, Nicole brings a wealth of accountancy experience to Quayside and she is a whiz in Xero! Nicole is active in her community both as a volunteer and with her family.
Callum joined Quayside in February 2024 as an Investment Analyst. He focusses on analysing investment opportunities in listed equities, private equity, property, and other real assets. Before joining Quayside Callum was both a Corporate Finance Intern and Graduate at Deloitte in Hamilton, later moving to the Auckland Corporate Finance team for a further two years, being promoted to Senior Corporate Finance Analyst before joining the Quayside team. Equipped with a Bachelor of Commerce, majoring in Finance and Accounting, followed by a Diploma for Graduates Endorsed in Economics, he enjoys the realm of mergers and acquisitions, the buy and sell side of transactions and digging deep into what makes the wheels spin within business.
Relocating to the Bay of Plenty, Meysum joined Quayside in February 2024 as an Investment Analyst. An Auckland University, Bachelor of Commerce graduate, Meysum was most recently employed with EY as a tax consultant and ASB before this. Passionate about investment and business from a young age, Meysum started an investment club at high school and entered the EY Tax Case Competition whilst at Uni, winning the New Zealand Regional finals and qualifying for the Oceania competition.
He is a food, culture and travel enthusiast when he’s not in the books or technology.
Tom joined Quayside in November 2022 as an Investment Intern after completing his time at the University of Waikato, studying a Bachelor of Business, majoring in Accounting and a minor in Agribusiness. In early 2024 Tom took on a permanent position as an Accountant within the Finance team, where his primary role is supporting the Financial Accountant across payables, receivables, financial reporting and budgeting and group GST in addition to assisting the investment team with reporting. Outside of work, this quiet achiever is a mad-keen sportsman, who enjoys the outdoors and expanding his culinary skills.
WHAT IS OUR
HISTORY?
Bay of Plenty Regional Council (‘BOPRC’), Quayside Holdings Ltd (‘QHL’), Quayside Properties Ltd (QPL), Port of Tauranga (‘POT’), Bay of Plenty (‘BOP’), Perpetual Preference Shares (‘PPS’), Opotiki Pack & Cool (‘OPAC’)
1989
- BOPRC established, receives 77% shares in POT from disestablished BOP Harbour Board
1991
- QHL established as commercial investment arm of BOPRC
- QHL borrows $53,000,000 to acquire POTL shares from BOPRC
1992
- POT lists on NZX, QHL shareholding reduces to 55%
1997
- QHL achieves 1st year as a viable entity in its own right
1998
- QHL pays first dividend to BOPRC of $1,290,000
1999
- 1st diversification opportunity for QHL when POT provides unimputed special dividend of $8,400,000
2001
- QHL net assets pass through $250,000,000
2003
- QHL establishes QPL to enable diversification into property
2005
- QPL purchases 162ha of land at Rangiuru for business park
2008
- Consent gained by QPL for development of Rangiuru business park
- QHL raises $200,000,000 through issue of PPS to retail investors, tradable on NZX. Proceeds held by BOPRC for infrastructure projects
2010
- QHL appoints first full time Chief Executive
2011
- QHL net assets pass through $500,000,000
2012
- Strike at Ports of Auckland increases container volumes via POT resulting in 40% increase in dividends
- New QHL policy of holding surplus profits for new opportunities
- NZ Productivity Commission attributes part of POT’s success as top performing NZ port to the QHL/BOPRC structure
2013
- QHL net assets pass through $1,000,000,000
2014
- QHL establishes QHL Investment Trust, a wholly owned portfolio investment equity trust
- QHL founding shareholder in Tauranga tech incubator, WNT Ventures
2015
- POT enters Kotahi JV with Fonterra and Silver Fern Farms, QHL shareholding reduces to 54.14%
- QHL & Te Tumu Paeroa (the Maori Trustee) invest into OPAC, the largest seasonal employer in Opotiki
- BOPRC formalises QHL strategy to retain 20% of cash profit, fostering further economic and regional development
2016
- QHL underwrites the concept of a BOP-based mid-tier private equity firm and becomes cornerstone investor in Oriens Capital
- QPL purchases 53 Spring St, Tauranga and develops a regional investment hub (The Vault) with aligned organisations/businesses as tenants
2017
- Huakiwi Services Ltd founded, a JV between QHL and Te Tumu Paeroa
- Huakiwi invests in new kiwifruit orchards in BOP on Maori freehold land
2018
- QHL net assets pass through $2,000,000,000
- QHL creates JV Tauranga Commercial Development Limited, acquiring commercial site in Tauranga for future development
2019
- QHL creates JV Lakes Commercial Development Limited, acquiring commercial site in Rotorua for future development of BOPRC office
2020
- QHL net assets pass through $3,000,000,000
- Provincial Growth Fund funding received to advance the Rangiuru Business Park.
2021
- Seeka Ltd acquires OPAC, doubling QHL’s initial investment
- Quayside turns 30 on 22 July 2021.
- Earthworks begin on Stage 1a of the Rangiuru Business Park.
2022
- Quayside acquires a 44% stake in PF Olsen, a leading professional independent forestry service.