ITC wants increased Australian investment

The dual-listed tech stock has announced a new executive appointment, CFO John Dakin, to open the Aussie operation.

MD Keith Phillips says it is paramount the company has a presence in Australia, and Mr Dakin will help build investor channels there.

He says the company would eventually like to reverse the current position where most of its shares are held in New Zealand, to having most of them held off-shore in Australia, the US and south-east Asia.

ITC says John Dakin has a diversified industry background in merchant banking, funds management and financial services having spent the last twenty years in senior financial roles in some of Australia's leading organisations such as Lend Lease, Chemical Bank, Costain Australia and MBF Australia.

The company says Mr Dakin has the expertise and credentials to play a major role in accelerating ITC's growth.

The Sydney office is due to open in September.

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