Meet the people overseeing Tower
Michael Stiassny
Chairman (LLB, BCom, FCA, CFInstD)
Non-Executive Director
Independent
Michael holds both a Commerce and Law degree from the University of Auckland and is a Chartered Fellow and past President of the Institute of Directors. Michael has enjoyed a high-profile governance career and is currently Chairman of 2 Cheap Cars Group Limited, and Director of Momentum Life Insurance Limited, Tegel Group Holdings Limited, and New Talisman Gold Mines Limited.
With a keen interest in fostering successful next generation New Zealand businesses, Michael also dedicates significant time to start ups and championing entrepreneurship through his involvement in Founders Advisory.
Appointed: 12 October 2012
Last re-elected: 2023
Board committee memberships: Chair of Tower Limited, Chair of People, Remuneration and Appointments Committee, Member of Audit Committee, and Risk Committee.
Appointed Chairman: 21 March 2013
Mike Cutter
Non-Executive Director (BSc (Hons) GAICD)
Independent
Mike Cutter has extensive governance and executive experience in the financial services sector across New Zealand, Australia, Asia, and Europe. He is currently the Chair of Arteva Funding, a non-executive Director of Pepper Money and, is a co-founder of credit risk management consultancy, Kadre.
Most recently, Mike served as interim managing director for Bambora Australia and group managing director for Equifax ANZ. Previously, he served a number of Australian-based boards including Women's Cancer Foundation, Ovarian Cancer Institute, Australian Financial Congress, National Insurance Brokers Association and the Australian Retail Credit Association. Prior executive roles include CEO of OAMPS Insurance Brokers (now Gallagher), GE Money Australia and New Zealand and, CRO of ANZ Australia.
Mike is based in Melbourne and is a graduate of the Australian Institute of Company Directors and a senior fellow of the Financial Services Institute of Australia. He holds a Bachelor of Science (Hons) from Hertfordshire University.
Appointed: 17 November 2023
Last re-elected: Elected in February 2024 having been appointed to fill a casual vacancy.
Board committee memberships: Chair of the Audit Committee, Member of the Risk Committee and People, Remuneration and Appointments Committee.
Marcus Nagel
Non-Executive Director
Independent
Marcus has significant insurance industry experience. For a decade he has performed senior leadership roles for Zurich in Europe and globally. In his last role at Zurich, he served as the Chief Executive Officer of Zurich Germany managing both life insurance and general insurance businesses
He has also held the position of Vice Chairman of the joint venture with ADAC, Germany largest Automotive Club, Chairman of the direct insurer DA Direct and Chairman of the life insurer, Zurich Deutscher Herold. Prior to that he also managed the independent financial adviser/broker business for Zurich Global Life.
Marcus holds a Masters Degree in Banking and Finance from Goethe University in Frankfurt, Germany and Master of International Management from the Arizona State University Thunderbird School of Global Management in Arizona, United States of America. Marcus was nominated by Bain Capital Credit LP (Bain Capital) to represent Bain Capital's stake in Tower, and his appointment was supported by the Tower Board.
Marcus is based in Switzerland.
Appointed: 14 January 2019
Last re-elected: 2025
Board committee memberships: Member of Audit Committee, Risk Committee, and People, Remuneration and Appointments Committee.
Geraldine McBride
Non-Executive Director
Independent
Geraldine joined the Tower Board effective October 1, 2022. She has extensive governance and technology industry experience, having performed Board and senior leadership roles both in New Zealand and internationally, with Sky Network Television Limited, SAP, Dell, and IBM. Geraldine is the founder and CEO of MyWave.
Appointed: 1 October 2022
Last re-elected: Elected in February 2023, having been appointed to fill a casual vacancy.
Board Committee Memberships: Chair of the Risk Committee, Member of the Audit Committee, Member of the People, Remuneration and Appointment Committee.
Naomi Ballantyne
Non-Executive Director
Independent
Naomi Ballantyne brings a wealth of experience and expertise in the financial services sector, particularly in the New Zealand insurance industry. In 2023, Ms Ballantyne sold Partners Life Limited, the highly successful insurance company she founded in 2010.
An entrepreneur with both executive and governance skills, Ms Ballantyne is currently the Managing Director of KNK Consulting Limited, Chair of insurance distribution group TAP Group Limited, and a Director of Dai-ichi Life Asia Pacific Limited - the regional office of International Life Insurance Corporation.
Prior to this, Ms Ballantyne founded and was the Managing Director of Unique Solutions and Advice Limited and ING Life (NZ) (now Chubb) and served as Chief Operating Officer of Sovereign Limited (now AIA) for 12 years. Her previous directorships include Accuro Health Insurance, Newpark Financial Services Limited, Club Life Limited, and New Zealand Superannuation Services Limited.
Naomi is a graduate of the London Business School and holds a Post Graduate Diploma in General Management from the University of Auckland.
Appointed: 21 May 2025
Last re-elected: Naomi was appointed by the Board to fill a casual vacancy. She will retire at the Annual Shareholders Meeting in February 2026 and is eligible for re-election.
Board committee memberships: Member of Risk Committee, Audit Committee, and People, Remuneration and Appointments Committee.