Public Enterprises and State Investment Minister William Duma yesterday announced four new appointments to the board of the National Development Bank.
Michael Mell has been appointed as chairman of the board replacing William Lamur, Darrel Seeto as deputy chairman replacing Dr Ken Ngangan, and Philip Isu and Robert Leo as directors.
Their appointments bring to seven the members on the NDB board.
“William Lamur and Dr Ken Ngangan have been outstanding contributors to NDB for the last 10 years,” Duma said.
“I acknowledge the significant changes and programmes made by the NDB under their leadership and direction.”
Duma said the bank strived to provide reliable, cost-effective and profitable banking operations while exceeding expectations of its customers and stakeholders.
He said the change was in accordance with the Kumul Consolidated Holdings Ltd Act, which allowed for 10 years of tenure for board members.
- Michael Mell is currently the managing-director of Mell Research and Marketing Consultants Ltd. He has a bachelor’s degree in economics and master’s degree in business administration, both from University of PNG;
- Darrel Seeto is a certified accountant and is currently a senior advisor with Shaw and Partners Ltd, one of Australia’s preeminent investment and wealth management firms. Seeto holds a bachelor’s degree in commerce from the University of New South Wales, graduate diploma in applied finance from the Australian Securities Institute of and is a senior associate with Australian Institute of Bankers;
- Philip Isu replaces the late Gavin Ross as director of NDB following his untimely passing on April 6, 2018. Isu is currently the general-manager of Gearing Pacific Ltd. He has a master’s in business administration from the Royal Melbourne Institute of Technology and bachelor of economics from UPNG; and
- Robert Leo fills one of the currently vacant director’s position.Leo is currently a private lawyer and principal of Leo Layers. He was formerly corporate secretary for the Consumer Affairs Council. He has a bachelor of law with honours from UPNG and is the most-experienced and senior lawyer practising in civil litigation in PNG.