The NZX is marking the death of former stock exchange chair David Wale by splashing his name across the bourse's ticker.
Wale chaired the NZ Stock Exchange through structural changes in the 1990s in the wake of the '87 crash that eventually led to its demutualisation and subsequent listing on its own bourse as NZX in 2003.
“On behalf of NZX, and the wider NZ capital market community, we send our sympathies and thoughts to David’s family,” NZX chair James Miller said in a statement.
“Through his hard work and sheer determination, David is rightly credited, alongside Sir Eion Edgar, for getting the New Zealand brokerage profession into shape and for steering the exchange through rough waters.”
Wale was one of the so-called "Jarden Boys" of the 1980s who took Ron Jarden's broking business to new levels. The list included Keith Taylor, John Benton and Bryan Johnson.
“David was an astute and smart operator and, as part of this team, they built up Jarden to become a formidable business,” Miller said.
