Micheal Stiassny steps down as chairman of Ngāti Whātua Ōrakei investment arm

Michael Stiassny is stepping down as chairman of Ngāti Whātua's Ōrākei's investment arm, Whai Rawa. Photo / Jason Oxenham

Billion-dollar iwi Ngāti Whātua Ōrakei is on the lookout for a new chair, following the retirement of Michael Stiassny from its investment arm, Whai Rawa.

Ngāti Whātua Ōrākei Trust chairwoman Marama Royal said Stiassny was stepping down after 11 years of dedicated service to the iwi.

She said Stiassny is one of the most respected directors in Aotearoa, has strong business acumen and leadership skills, and was instrumental in delivering positive commercial and social outcomes for the hapū.

Royal said Stiassny’s prudent investments in land and property had seen Ngāti Whātua Ōrakei grow its asset base by more than 400 per cent, now being worth a $1.6 billion balance sheet.

“Michael has given his service to Ngāti Whātua Ōrākei for the past 11 years, leading the Whai Rawa Board with dedication and commitment. He will leave Ngāti Whātua Ōrākei in an undeniably strong financial position which will provide significant support for the future direction of our people,” Royal said.

“His tautoko and aroha for the ambitions of Ngāti Whātua Ōrākei has been demonstrated in his efforts and resilience to ensure that the generations to come have a positive and lasting legacy.”

Ngāti Whātua Ōrākei Trust chairwoman Marama Royal has paid tribute to outgoing Whai Rawa board chairman Michael Stiassny. Photo / NZME

Stiassny led Ngāti Whātua Ōrākei Whai Rawa with key initiatives such as Toi Tupu – an iwi-funded savings and investment scheme - and Toi Ora: iwi-funded health insurance cover for all members of Ngāti Whātua Ōrākei with Nib.

She said his leadership was invaluable during the delivery of projects such as the award-winning whānau housing developments Kāinga Tuatahi, where 30 whānau were able to borrow from the iwi to purchase a newly built, architecturally-designed whare, and Kāinga Kaumātua, 10 whare co-designed by kaumātua, for kaumātua on the papa kāinga - as well as Oneoneroa, the country’s first commercial residential development led by an iwi developer.

“He has worked tirelessly to both strengthen our position as tangata whenua in Central Tāmaki, and our position as a strategic and economic partner in the growth of the city and country. Michael has led our ambition to see the Ports of Auckland moved to open up our treasured Waitematā moana for better use by the public, and the regeneration of our taiao.

“Ngāti Whātua Ōrākei thank Michael and, especially, his whānau, who supported him in his role with us over the past 11 years. He will leave behind a lasting legacy in his position as chair.

“Kei te ihu manea, kua riro a Ngāti Whātua Ōrākei i ā koe me tō whakapau kaha kia tuku, kia rere arorangi te Kāhu pōkere ki ngā taumata tiketike. E kore e oti a reo mihi ki a koe, tēnā rā koe.”

The board will elect a new chair in the coming weeks.