Fonterra’s $3.2b capital return to farmers set to boost rural incomes and NZ economy
According to ASB, Fonterra's plan to sell it's Anchor and Mainlands brands could inject $4.5 billion in additional spending into the economy.
Hegan has been with ASB for 18 years and was previously national manager of its rural corporate division, responsible for managing large agri-business customers that represent some of the biggest producers of primary products in New Zealand.
In his new role, Hegan will lead a team of more than 200 people across New Zealand with overall responsibility for ASB’s rural banking portfolio.
ASB executive general manager business Steve Jurkovich says Hegan has been an important part of ASB’s rural leadership, where he has proven his ability to coach and inspire high-performing teams.
“Richard has a strong passion for the rural sector and delivering an exceptional experience as we help our customers achieve their rural ambitions. He has been part of the senior team that has led ASB rural banking to its market-leading position. That continuity and stability is a key part of ASB rural banking," Jurkovich says.
“With his background and broad experience across all areas of the rural portfolio, I’m confident Richard is the right person to lead the team and support our customers across all aspects of the primary sector.”
Before starting his career in rural banking, Hegan attended Lincoln University where he received a Bachelor of Commerce, Agriculture, Farm Management and Rural Valuation. Hegan is based in Christchurch.
He has a strong interest in corporate governance, sits on the boards of two private companies and is an active member of the Institute of Directors.
