Port Moresby, 22 August 2024 – FinCorp Limited is delighted to announce the appointment of Mr Mark Ellul GAICD and Mr. Loi Martin Bakani CMG, to its Board of Directors.
Both bring a wealth of experience and expertise that will undoubtedly contribute to FinCorp’s growth and strategic direction.
Mr Ellul joins FinCorp’s Board with extensive experience in the banking and financial sector, having held senior executive roles at ANZ Bank and Halifax Bank of Scotland (HBOS)/Bankwest.
Mr. Ellul’s notable achievements include driving and managing complex business turnarounds and operations, implementing strategic policies and risk profiles, and leading sustainability transitions. His experience in engaging with a wide range of stakeholders and executing complex organizational structures across diverse regions, including PNG and the Pacific, will be invaluable to FinCorp.
- - Mr Ellul’s previous roles include:
- Head of Community Sustainability/Senior Advisor Sustainability Transition at ANZ
- Executive Director Institutional Banking at ANZ Papua New Guinea
- Board Member/Non-Executive Director at ANZ Vanuatu Limited
- Chief Risk Officer for Fiji and Deputy Chief Risk Officer for the Pacific; and
- Head of Credit Fiji & Pacific and Chief Risk Officer Samoa, Tonga & Cook Islands
Mr Ellul’s leadership, including within sustainability and ESG matters, risk and governance, as well as, his strategic mindset, will support FinCorp's mission to optimize resources, increase efficiency, and maximize profit while maintaining quality and workplace morale.
Mr. Loi Martin Bakani CMG, the former Governor of the Bank of Papua New Guinea (BPNG), brings over a decade of experience in central banking and financial sector reform.
During his tenure, Mr. Bakani led significant reforms in microfinance, financial inclusion, and the modernization of payment systems. His efforts in establishing the Centre for Excellence in Financial Inclusion (CEFI) and implementing the Kina Automated Transfer System (KATS) have been pivotal in advancing the financial landscape of Papua New Guinea.
- - Mr. Bakani’s previous roles include:
- Governor and Chairman of the Bank of Papua New Guinea (2009-2021)
- Deputy Governor - Policy and Regulations at BPNG (2005-2009)
- Deputy Chairman of the State team on the establishment of the Sovereign Wealth Fund (SWF); and
- Chairman of the BPNG Board Committee for reviewing the Central Banking Act 2000
His extensive involvement in international and regional financial institutions and groups, commitment to policy advocacy, and dedication to transparency and accountability make him a valuable addition to the Board.
Goiye Gileng, FinCorp’s Board Chairman commented that, "FinCorp is thrilled to welcome Mr Mark Ellul and Mr Loi Martin Bakani CMG to its Board of Directors. Their vast experience and exceptional leadership qualities will be instrumental in guiding FinCorp towards achieving its strategic objectives and reinforcing its commitment to excellence in the financial services sector."
Andre Bester, FinCorp’s Acting Chief Executive Officer also stated that, "The addition of Mr. Ellul and Mr. Bakani to it’s Board comes at a pivotal time for FinCorp. Their insights and expertise will be crucial as the brand continue to innovate and expand its offerings. FinCorp is confident that their contributions will significantly enhance the brands' ability to serve its customers and stakeholders effectively."
The Board and Management of FinCorp Limited is confident that the expertise and leadership of Mr. Mark Ellul and Mr. Loi Martin Bakani CMG will drive the FinCorp’ brand forward, ensuring continued growth and success.