NZ Mint appoints CEO to mine market opportunities

Monday 10th May 2010 2 Comments

David Colvin has been appointed to the newly-created position of chief executive of Auckland-based New Zealand Mint.

Colvin was most recently chief executive of ASX-listed technology services company ConnXion based in Sydney. Prior to that he was managing director of Software Spectrum Asia Pacific, a subsidiary of USA Nazdaq-listed company of the same name.

Auckland born and bred, Colvin has spent the last 17 years in Sydney and brings to NZ Mint proven expertise in business growth and international expansion.

During his tenure at Software Spectrum, the business grew to in excess of NZ$120m across Asia Pacific and at ConnXion he was instrumental in building a profitable services business with global blue-chip customers within five years.

NZ Mint has created the role of chief executive to enable Colvin to focus on business growth in both local and international markets across the company's core businesses of bullion, commemorative coins and branded jewellery.

Colvin sees a number of opportunities for New Zealand Mint across the company's full brand portfolio.

"Being able to align with the brand New Zealand is a powerful endorsement in offshore markets and that works across bullion, coins and jewellery.

"With bullion, more and more international investors are looking for, not only the security of precious metals, but also a safe haven for those investments."

He says New Zealand's isolation and relatively stable and conservative political climate makes our country an ideal sanctuary for investors.

"They can also take a holiday in a scenic and friendly environment and physically visit their investments so we are starting on the front foot when it comes to offshore markets," Colvin says.

He also believes there are untapped opportunities to market precious metals to a wider range of investors.

"In the past, bullion has been viewed as an investment for the wealthy only. However, with the baby boomers now retiring, we see opportunities to demonstrate why they should have 10% of their super savings in gold for example."

New Zealand Mint managing director Gary McNabb says Colvin's appointment reflects the company's belief it can be a leading mint globally.

"The business is at a very exciting high growth stage with significant prospects in international markets from bullion through coins to our jewellery brands. David's appointment is designed to mine those opportunities."

Comments from our readers

On 15 April 2011 at 11:13 am Former Employee said:

So, this is where Mr Colvin is hiding. Look into his history and you will see he drove a company called Naratis into the ground and could not pay his employees. Men with families were not getting paid. Superannuation was stolen. I personally lost $4,000 to the David Colvin fund. Ah well, time heals most things I guess but I still have a sour taste in my mouth about Mr Colvin's background. Beware of the Shiny White Teeth.. LOL

On 13 June 2011 at 5:14 am Eyes opened said:

Interesting comment from 'former employee'. It seems sharks attract sharks. It comes as no surprise that Gary McNabb would have someone with a murky past working for him. Based on my own experiences with Gary Mcnabb I would encourage potential investors to do a bit of research before entrusting their money to any entity associated with him.