New manager for community trust

The Eastern and Central Community Trust distributes almost $5 million annually to communities in its region, which includes Wairarapa, and controls capital investments of more than $130 million.

A new manager has been appointed to head the Eastern and Central Community Trust which distributes almost $5 million annually to communities in its region, that includes Wairarapa, and controls capital investments of more than $130 million.

Jonathan Bell takes up the position following the retirement of John McKenzie.

One of Mr Bell's challenges will be managing the trust's investment portfolio to ensure it continues to provide funds for distribution throughout Gisborne, Hawke's Bay, Tararua, Wairarapa, Manawatu and Horowhenua.

Mr Bell has a finance and banking background.

He was finance and credit manager for rural services co-operative Farmlands before joining the trust and previously worked with specialist rural bank, Rabobank, as its Southern North Island manager, with responsibilities covering a similar geographical area to that serviced by the Community Trust.

The appointment represents something of a return home for Mr Bell, who worked in Gisborne for Trust Bank Eastern and Central, which was one of 12 community banks created during bank restructuring in 1988 and later sold to Westpac.

The sale provided share proceeds of $109 million to the Community Trust.

Community Trust chairman Geoff Milner, of Gisborne, says maintenance of the investment portfolio is key to sustaining donation distributions and helping to build better communities.