Board of Directors
Syd Yates OBE
Syd Yates was appointed Chairman in November 2018.
He is an experienced and respected executive and Director with more than 30 years’ experience in the banking, finance and investment industries. Mr Yates retired as CEO of Kina Group in January 2018 after 21 years and was the driving force behind Kina’s transition to Papua New Guinea’s largest diversified financial services group. He successfully listed Kina on the Australian Stock Exchange and Port Moresby Stock Exchange in 2015. He is currently Director of Kina Funds Asset Management. Beyond his business life, Mr Yates has made a significant contribution to both the community and sport in PNG. He is a Director and Chairman of Fundraising of the Papua New Guinea Olympic Committee and Commonwealth Games Association of PNG. Mr Yates was previously Chairman of Bmobile and a Director of Air Niugini Ltd and the Port Moresby Stock Exchange.
Faye-Zina Lalo was appointed to the Board in March 2017.
Ms Lalo is a corporate and commercial litigation lawyer and also serves as a director on other boards of various corporate institutions as well as non-governmental organisations in Papua New Guinea. Ms Lalo was recently awarded the PNGID “Female Director of the Year” award in 2018 recognising her contributions in her role as director. Before joining Credit Corp PNG, Ms Lalo practised corporate and commercial law for over 12 years in PNG in both private legal firms and corporate institutions. Ms Lalo holds a Master’s in Business Administration from the University of PNG and a Bachelor of Laws from the University of PNG.
Michael Varapik OBE
Michael Varapik was appointed to the Board in May 2018.
Michael has extensive management, corporate, financial, operations and marketing experience spanning over 35 years in the private and public sectors. He is currently a Director on the Boards of Comrade Trustee Services Limited, Toea Homes Limited, a wholly-owned subsidiary of Comrade Trustee Services Limited and Waigani Asset Limited.
Michael holds a Bachelor of Technology in Accountancy from the PNG University of Technology, Lae, a Bachelor of Business from Deakin University, Australia, and an MBA from the International Management Centres, Oxford Brookes College, University of Oxford in the UK.
A member of the PNG Institute of Directors, Michael received the Male Director of the Year Award in 2015, from the Institute, for distinguished services to commerce and business. Also, under the Queen’s Birthday 2018 Honours Awards, Michael received an OBE for distinguished services to corporate governance and the community.
Michael is passionate about the development and promotion of corporate governance in PNG.
Richard Sinamoi was appointed to the Board in May 2018.
Mr Sinamoi is an experienced executive and director with 19 years’ experience in the superannuation and financial services industry, having worked for the Comrade Trustee Services Limited as CEO until January 2017.
He has served on Boards for both commercial entities and charitable organisations, spanning a range of industries from food and beverage, general insurance, trustee services, micro banking and funds management.
He is currently an Independent Director with Paradise Foods Limited, PNG Microfinance Limited, TransPacific Assurance Limited and Executive Director of Kama Kofi Limited.
He holds a Certificate in Business majoring in Marketing from TAFE, New South Wales and Bachelor of Applied Science Systems from the University of Western Sydney, Australia.
Johnson Kalo was appointed to the Board in March 2018 and became Acting Chairman in May 2018 until the appointment of Mr Yates as Chairman.
Mr Kalo was CFO and Deputy CEO of a leading regional financial institution, Bank of South Pacific Limited Group between 2005 until his retirement in 2017, His previous roles have included senior positions at PNGBC Limited, Motor Vehicles Insurance Limited and KPMG.
Mr Kalo has previously held Directorship’s at subsidiaries of The Bank of South Pacific Limited, Comrade Trustees Services Limited, Port Moresby Stock Exchange Limited, Kumul Consolidated Holdings, and Tisa Community Finance Limited. He is a member of Papua New Guinea Industry Directors and Australian Institute of Company Directors.
He holds a Bachelor of Commerce from the University of PNG and a post graduate diploma in Applied Finance from Financial Services Institute of Australasia. He is a CPA PNG associate and a FINSIA fellow member.
Mr Kalo provides a variety of community organisations with pro-bono services. He was also previously a member of the Council of the Institute of National Affairs, and currently serves on the Board of Cricket PNG.
James Kruse was appointed to the Board in May 2018.
Mr Kruse has significant accounting and finance experience with more than 30 years in the public accounting profession and several years in commercial accounting roles both in PNG and Australia.
Mr Kruse recently retired after 15 years as a partner of Deloitte Touche Tohmatsu in PNG where he headed up the firm’s business services and corporate advisory and insolvency services divisions.
He has extensive experience in the areas of PNG corporate compliance, taxation, business finance, property and business valuations and sales, corporate restructuring, and debt recovery.
Mr Kruse’s experience covers a broad range of industries including manufacturing, agriculture, mining, property, retail and wholesale trade, and service industries in PNG and the Solomon Islands.
Mr Kruse is a Fellow of both CPA PNG and CPA Australia, immediate past president of CPA Australia PNG Branch, and is active in sporting and industry associations and professional bodies. He is a member of the PNG Institute of Directors and a Councillor with the PNG Australia Business Council.
Dr Albert Mellam
Dr Albert Mellam was appointed a Director in August 2013.
Dr Mellam is the Executive Director of the Papua New Guinea Chamber of Mines and Petroleum. He was the immediate past Vice Chancellor of the University of Papua New Guinea.
Dr Mellam holds Directorship positions on a number of company boards in Papua New Guinea and the region including the Nambawan Super Limited, the biggest Superannuation fund in PNG. He is also a member of many professional organisations including, the Association of Asia-Pacific Business Schools, the Global Development Network and the Australian Institute of Directors.
Dr Mellam has undertaken assignments for the Government of Papua New Guinea and multinational corporations within the Asia-Pacific region and served as an advisor to several Ministries with the Government of Papua New Guinea including the Department of Prime Minister and National Executive Council’s, Vision 2050 Centre.
Dr. Mellam holds a Doctor of Philosophy (PhD) in Psychology from the Australian National University, Canberra; a Master of Science (MSc.) degree from Stirling University, Scotland; and a Graduate Diploma in Knowledge Economics from the Singapore Management University, Singapore. He has held academic engagements in Australia, India, Europe, and the South East Asian region, and is a visiting lecturer with the School of Business and Public Policy, University of Papua New Guinea and an Adjunct Professor of Management, James Cook University, Australia.
Abigail Chang was appointed to the Board in December 2016.
Ms Chang has held executive management positions within the private sector and has seven years of central banking experience in the areas of financial system supervision, regulation, policy development and licensing within the banking, insurance, foreign exchange and superannuation industries.
Ms Chang is engaged at a regional and country level in the areas of national policy development, embedding financial education within national and sub-national education curriculum and digitising Government to Person (G2P) payments. Across these distinct areas of work, she works with a multitude of private and public stakeholders to fund, design, implement and report on financial inclusion programs.
She served as Acting Chief Manager Financial Institutions of Reserve Bank of Fiji until August 2009.
David Doig was appointed to the Board in December 2015.
Mr Doig is the Managing Director of Moore Business Systems PNG Limited and has been in business in Papua New Guinea since 1996. Mr Doig brings a broad range of business management experience to the Board with skills in strategic management, business planning, financial management, business to business marketing, human resource management and I.T.
Mr Doig is also on the board of Brian Bell Company Limited and the Employers Federation on PNG, and has previously served on the boards of National Superannuation Fund Limited and the PNG Manufacturers Council.