The board of New Zealand insurer Tower has appointed Mike Cutter as independent director. 

Tower CEO Blair Turnbull will step down from the Board. He had been executive director pending the appointment of a new independent director. 

Melbourne-based Mr Cutter, a former National Insurance Brokers Association (NIBA) board member, has almost four decades of financial services experience.  

In 2021, he was appointed Chairman at Premium Funding and Principal Finance and was previously Group MD of Equifax ANZ, OAMPS Insurance Brokers CEO, GE Money Australia and New Zealand CEO, and ANZ Australia CRO.  

He has served on the boards of Arteva Funding, US based finance company Sezzle, non-bank mortgage provider Pepper Money, the Women’s Cancer Foundation, Ovarian Cancer Institute, the Australian Finance Congress, and the Australian Retail Credit Association, and as adviser to Credit Clear, and is a co-founder of credit risk management consultancy Kadre.  

“Mike brings more than 35 years’ of financial services experience to Tower, including a strong background in risk management. His skillset is a valuable addition to the Tower Board and business, " Tower Chair Michael Stiassny said.