First State Investments appoints Michelle Tredenick and Richard Wastcoat as independent non-executive directors to its board.
Following the sale of its business in August last year to Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, First State announced that it will operate as a standalone investment manager governed by a board of directors
“As a standalone business, [Tredenick and Wastcoat] will play an important role in ensuring we align with best practice corporate governance,´ says Sunao Yokokawa, First State’s chairman.
Tredenick has held senior roles at National Australia Bank, MLC and Suncorp and currently serves on several listed and private company boards, including Insurance Australia Group, Bank of Queensland, Cricket Australia and Urbis. She has twice been awarded Banking and Finance CIO of the Year and is a fellow of the Institute of Company Directors.
Wastcoat has over 25 years of executive experience in US, Europe and Asia and a track record of leading a large, complex business as well as managing developing businesses in emerging markets. Before joining First State Investments in 2011, he spent 25 years at Fidelity and worked as chief executive of its UK mutual fund business. He also held several concurrent roles, which involved overseeing Fidelity’s businesses in Spain, the Nordic Region, the Middle East and Africa, and India during this period.
